The iconic Audiogram record company has just been sold.
In fact, Quebecor Sports and Entertainment announced on Wednesday that it had acquired Audiogram and its subsidiary Éditorial Avenue, the largest French-language music publisher in Canada.
The amount of the sale was not disclosed.
Founded in 1984 by Michel Bélanger and Rosaire Archambault, Audiogram has produced some 400 albums by artists such as Jean Leloup, Ariane Moffatt, Paul Piché, Pierre Lapointe, Jean-Pierre Ferland and Michel Rivard. Its sales exceed 10 million albums worldwide.
Philippe Archambault, who has headed the company since 2015, will continue to work as General Manager of Audiogram, in addition to being added the functions of Vice-President Music of the Sports and Entertainment Group of Quebecor.
“It was important for Rosaire Archambault and I to retain Quebec ownership of our musical catalog. I am certain that artists will continue to benefit from exceptional support and will also continue to find the necessary freedom in order to let their talent express, ”underlined Michel Bélanger, founding president of Audiogram, in the press release announcing the transaction.
With the emergence of online listening services, there is increasing interest in music rights.
Internationally, major catalog buybacks have taken place recently. Universal bought the rights to all of Bob Dylan’s songs for $ 300 million, while American-Canadian singer Neil Young sold 50% of the rights to its catalog to British investment fund Hipgnosis.
With Émilie Côté