Virgin Music Group, the independent music division of Universal Music Group, has announced its agreement to acquire Downtown Music Holdings LLC for $775 million (€737 million). The deal, subject to regulatory approvals, is set to close in the second half of 2025.
JT Myers, Co-CEO of Virgin Music Group, praised Downtown’s leadership team, saying, “Justin Kalifowitz, Andrew Bergman, and Pieter Van Rijn have built Downtown Music into one of the most diversified and respected operations in the world. This partnership allows us to build on Downtown’s impressive legacy, expanding our global infrastructure to better serve the independent music community. We’re excited to work alongside the Downtown team to offer artists, creators, and entrepreneurs an even more comprehensive suite of services.”
Downtown Music, known as a pure services company, spans recorded music, publishing, and other areas. The company has operated without owning copyrights since selling its portfolio to Concord for approximately $400 million over three years ago. This acquisition aims to strengthen Virgin Music Group’s reach and support for independent artists worldwide.
