IN-motion AG
IN-motion AG english
IN-motion sells majority stake in Trauma Records
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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IN-motion sells majority stake in Trauma Records
Frankfurt am Main, February 20, 2002 – The international media group
IN-motion AG, Frankfurt, has sold its majority stake in the US-label Trauma
Records, Los Angeles. The founders of Trauma Records, Rob Kahane and Paul Palmer
will buy back the IN-motion stake in two tranches. IN-motion will sell 26,1% of
its stake this year, while the remaining stake of 24,9% will be sold in 2003.
The Entertainment group is not bearing anymore risk in the US music market.
A purchase price of USD 6 million has been agreed for IN-motion’s majority
stake. This is the amount IN-motion has originally paid for their stake in
Trauma Records. Furthermore, it has been agreed upon that the funding USD 4,5
million paid to Trauma will be paid back to IN-motion as well.
However, the increasingly important soundtrack business will still be transacted
via Trauma Records in the future. In return, the high-quality back catalogue as
well as all future releases of Trauma will be marketed by the
IN-motion group in Europe. Thus, IN-motion will further benefit from the
excellent marketable artists and bands signed to Trauma Records, such as
Shaquille O’Neal, CrashPalace, Best of Bush etc.
IN-motion’s consolidated financial statements for the year 2000/2001 according
to US-GAAP will presumably be announced on February 28, 2002.
end of ad-hoc-announcement (c)DGAP 20.02.2002
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WKN: 622380; ISIN: DE0006223803; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
200826 Feb 02
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