Hal Leonard Acquires Music Sale

Hal Leonard Acquires Music Sales
Blockbuster Merger Creates Global Force In Print Music  

HAL LEONARD has acquired the physical and online printed music business of U.K.-based Music Sales Corporation in a $50 million transaction, creating a vast catalog of popular, classical, and educational titles and a global distribution network. Music Sales will continue to operate, managing a large portfolio of music copyrights that include, among other titles, the works of Samuel Barber. As part of the transaction, Hal Leonard has entered into a long-term licensing agreement to represent and exploit Music Sales' copyrights in print.
   The two print publishers have had a decades-long cooperative relationship, with Hal Leonard distributing certain Music Sales titles in the U.S. market, and a Hal Leonard/Music Sales joint venture distributing select Hal Leonard products in Europe. Following the acquisition, Hal Leonard Chairman Keith Mardak said, "We're taking down barriers between the companies" to facilitate greater efficiencies and an expanded product offering. He added, "We will now be in a position to offer the entire Hal Leonard and Music Sales catalogs to the world."
   Commenting on the transaction, Music Sales Chairman and Owner Robert Wise added: "Printed music has played a special role in the long history of Music Sales, but our direction of travel has been very clear in recent years as we continue the expansion of our portfolio of copyrights in all styles and genres across the world. In making this deal it was important for us to find the right buyer for our printed music business, and we are confident that Keith Mardak and his team at Hal Leonard will do a great job with this business in the future."
   Mark Mumford, Hal Leonard's longstanding European managing director, will oversee the integration of the two companies in Europe. Following the acquisition, Hal Leonard will operate print distribution warehouses in the U.K., the Netherlands, and Italy. The company also has a distribution site in Australia.
   In closing, Mardak commented, "Bob Wise has built an incredible printed music business, and we feel privileged to be the new custodians of his many years of hard work."