AC/DC Australian label Alberts sold to BMG
BMG acquire Alberts –the company that launched AC/DC's career
The Australian record label which launched AC/DC's career has been acquired by major music firm Bertelsmann Rights Management (BMG).
Alberts, a 131-year-old independent recording and publishing company, will form part of BMG Australia. It was originally a watch and clock repair shop, but its watchmaker and musician founder Jacques Albert began selling instruments and sheet music in store, before expanding into publishing, recording and artist management.
Outgoing CEO David Albert tells Billboard: "It’s positive for the business and for the future. But the other emotion is, all the family feels there’s a sense of sadness that it’s the end of a 131-year era.
"What makes it a bit easier from the family’s perspective is we made it together. But there couldn’t be more mixed emotions."
BMG CEO Hartwig Masuch adds: "This is an incredible opportunity to create a new leader in Australian music, combining Alberts’ strengths with BMG’s 21st century approach to the music business.
"As of today, Australian artists and songwriters wishing to tap into the world market have a genuine alternative to the established majors. BMG is very serious about the Australian market and this deal is an indication of our commitment."
Meanwhile, New York based indie record label The End has also been bought over by BMG. Specialising in punk, metal and electronica, the company has been around for almost 20 years.