Universal Music Group partners with [PIAS]

As part of the deal, Universal has committed to providing [PIAS] with a package of funding. In return, UMG will be able to access [PIAS]’s distribution network through its distribution and services division, [Integral].

Universal Music Group isn’t taking an equity stake, even a minority equity stake, in [PIAS]; the independent company remains fully controlled by its co-founders Kenny Gates and Michel Lambot.

Kenny Gates said: 'Almost 40 years since Michel Lambot and I launched [PIAS] we are as eager and driven as we ever were and remain wholly committed to providing independent labels and artists with a platform to reach a global audience.

'This new, somewhat unconventional, strategic agreement with UMG will help both companies maximize the many opportunities we know are available, while not compromising our independence whatsoever.'