VIRGIN MUSIC GROUP ACQUIRES OUTDUSTRY

Virgin Music Group has extended its reach in China and India by acquiring Outdustry, the territories' leading artist/label-services and rights-management business.

As part of the deal, Ed Peto, who founded Outdustry in Beijing in 2008, will assume the title of SVP, International Strategy at the label group. The London-based Peto will report to VMG Co-CEOs JT Myers and Nat Pastor, working closely with Michael Roe, managing director of operations in Africa, Middle East and Asia.

Myers said, “After more than 15 years working in China, India and other territories, Ed and his team have built unparalleled experience and relationships in some of the world’s most important growth markets.”

Peto added, “Bringing everything we’ve built at Outdustry into Virgin Music Group represents an enormous opportunity to expand our vision globally. There's never been a more exciting time to be working in music.”

In addition to the marketing-services business, Peto also oversees the publishing company Outdustry Songs and the label Outdustry Records, which will continue in partnership with Universal Music Publishing Group and VMG, respectively.