It is being widely reported that Kuke Music Holding has acquired a a 70.43 percent controlling interest in Naxos Music Group for $106.35 million.
“This strategic acquisition of Naxos Music Group represents a landmark transaction that will significantly enhance our position as a leading classical music services platform,” said Peixian Tan, Chairman and CEO of Kuke Music. “Naxos’ world-class content library, combined with its proven global distribution capabilities, creates compelling synergies with our existing music education and technology platforms.”
Kuke is a leading classical music service platform in China encompassing the entire “value chain,” from content provision to music learning services. The platform boasts approximately 3 million audio and video music tracks.
The ramifications of this acquisition will become more visible over time. Meanwhile Kuke stick rose 240 percent yesterday on the New York Stock Exchange.
