Universal Music Group has struck an agreement to acquire majority control of the second largest music catalog inRS GroupIn its regulatory filing, RS group said that UMG is paying $45 million for the stake and that earn-out payments could lift this by a further $44.9 million . The deal is expected to close in the third quarter of the year.
Thailand’s recorded music sector’s revenue grew by 20% in 2022 to surpass $100 million for the first time ever according to IFPI’s Global Music Report, 2022.
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