Universal Music Group to Sell Sanctuary Records for $62M

Universal Music Group to Sell Sanctuary Records for $62M

Universal Music Group has agreed to sell Sanctuary Records -- home to rock bands Black Sabbath and Megadeth -- for $62 million, according to the Los Angeles Times.

According the report, which cites an anonymous source with knowledge of the transaction, Sanctuary will now be owned by BMG Rights Management in Berlin. Universal has already sold EMI's Parlophone to Warner Music Group, according to the L.A. Times report.

[via L.A. Times]

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Tags: universal-music-group, black-sabbath, megadeth
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