Report: SANCTUARY Mulls Music Sell-Off

January 26, 2007

ThisIsMoney.co.uk reports that Sanctuary — the independent music group which represents artists such as SLIPKNOT and SLAYER — said today it is looking into the sale of some of its businesses as it attempts to return to profitability.

The news came as the group posted operating losses of £56.7 million for the year to September 30, an improvement from the £136 million loss in 2005.

The company said options to release value from the firm included the possible sale of its interest in Rough Trade Records, along with continued moves to cut the number of artists at its artist management arm.

Sanctuary said tough trading conditions across CD markets meant revenues at its recorded product arm fell to £35.1 million from £59 million last year.

Read the rest of the article at ThisIsMoney.co.uk.

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