Create Music Group, one of the world’s leading music and entertainment companies, announced today that it has acquired the Manchester, England-based record label and music publisher Ostereo. Read more: Flexpoint Ford Makes a Significant Minority Investment in Create Music Group to Fuel Strategic Growth.
Founded in 2016 by Howard Murphy, Ostereo has successfully used data analytics to identify and develop chart topping artists from various territories around the world, including Europe, UK, Korea, India, Indonesia, The Philippines and others. As part of the deal, Murphy will exit the company and his longtime partners Ramin Bostan and Nick Kirby will oversee day-to-day operations at the company.
“Howard and his team have built Ostereo into a highly successful music venture and are the exact type of leaders and entrepreneurs that thrive under our ecosystem,” said Create Music Group Founder and CEO, Jonathan Strauss. “We are excited to welcome Ramin, Nick and the entire Ostereo team to Create and look forward to working alongside them to build even greater opportunities for the label and its incredible artists.”
“Over the last decade we have built Ostereo into a home to incubate and develop exciting new artists across multiple genres,” said Murphy. “Becoming a part of the Create family of companies gives me the confidence to step away to focus on my next endeavor. With Ramin and Nick handling things together with the global experts at Create, I know our artists are going to thrive.”
Ramin Bostan, COO of Ostereo commented: “This acquisition marks the start of a new, exciting chapter for Ostereo; we can’t wait to develop our global roster of artists with the expertise and infrastructure at Create, one of the most inspiring music companies in the world.”
Nick Kirby, CFO of Ostereo said: “While it’s the end of an era, this move is set to present new opportunities for our artists and our staff as we aim to introduce our catalogue to new audiences and expand our network. It’s a partnership designed for growth.”
Create Music Group’s executive team, led by CEO Strauss, COO and co-founder Alexandre Williams and Senior Vice President of Global Corporate Development and M&A Eric Nguyen, will work closely with Ostereo’s team to ensure a seamless integration, prioritizing continuity for artists, partners, and staff.
For more stories, visit Radio Facts.
See more in Music Business News.