Believe Digital has acquired a majority stake in the long-running and heavy metal label Nuclear Blast for what is believed to be an eight-figure sum, Music Business Worldwide reports.
Nuclear Blast CEO Markus Staiger remains a shareholder in the company, which he founded in 1987.
In a joint statement, Believe and Nuclear Blast said their new “strategic alliance” would “use [our] combined capabilities… to further strengthen the services rendered to artists and develop new artists.”
Thorsten Freese, managing director of Believe Digital Germany, said: “Nuclear Blast has the most prestigious roster of hard rock and metal artists in the world. These artists are served by a team of passionate and dedicated staff.
“Because we share this passion and dedication, we are very excited to establish this alliance with Nuclear Blast and service the careers of their artists and develop new and exciting talents with their team.”
Staiger added: “We have known for a long time that we needed to respond to the changes in the music industry. We are also aware that we need to move away from the idea of conventional collaborations in order to continue to be a world-class force, especially in the digital market.
“We have found the ideal partner with Believe Digital to lead Nuclear Blast and its artists into the future.”
To drive the new-look Nuclear Blast, Markus Staiger has appointed Yorck Eysel and Marcus Hammer, who have been running day-to-day operations at Nuclear Blast for several years, as Managing Directors.
Gerardo Martinez will continue to run Nuclear Blast USA, as will Mark Palmer in the U.K.