Reaching back to a relationship forged when he ran Universal Music’s Island Def Jam, Lyor Cohen has brought the hard-rock label Roadrunner into the Warner Music Group fold.
WMG is acquiring 73.5% of Roadrunner Music Group, known as the home of Nickelback and Slipknot, for $73.5 million.
Roadrunner will become a freestanding label group within the Atlantic Records Group; Roadrunner managing director and founder Cees Wessels will continue to run the company. Roadrunner’s international affiliates will become freestanding units within Warner Music Intl.
Acquisition will not involve any staff changes.
Roadrunner Music Group was founded in 1980 in the Netherlands, where its headquarters will remain. Company has offices in New York, Canada, the U.K., Germany, France, Japan and Australia.
In addition to Nickelback and Slipknot, label’s roster includes Stone Sour, Killswitch Engage, Theory of a Deadman, Megadeth, Black Label Society and Trivium.
Subject to regulatory approval in Germany, transaction is expected to close in January.
Island Def Jam inked a distribution deal with Roadrunner in 2001.