According to a report by Music Business Worldwide, it has been confirmed that Dutch Powerhouse label Spinnin’ Records has been bought out by Warner Music Group. The business deal came with a loaded price-tag of more than $100 million.
The news comes after circulated reports of numerous companies shopping around for the Dutch dance label, with WMG ultimately reigning as the champion. Other alleged contenders included Sony Music Entertainment and Believe Digital.
This massive acquisition comes at the heels of other major buyouts from music’s most powerful companies. Just last month, WMG added California label Artery Recordings under its belt, including a newly relaunched Sire Records.
Since it’s founding in 1999, Spinnin’ Records has released music from top dogs in the dance music world like Tiesto, Martin Solveig, Showtek, and countless others. Time will only tell what the future holds for the beloved dance label.