UMG Takes Full Ownership of GetMusic

Posted on April 27, 2001

Universal Music Group (UMG) announced that it has taken full ownership of the music media company GetMusic, acquiring the half owned by BMG Entertainment. UMG also announced plans to integrate the operations of Farmclub.com and GetMusic. BMG will continue to work with GetMusic after the sale to supply programming content from the BMG family of labels in the future.

Andrew Nibley, who joined GetMusic LLC as President and CEO in October 1999, has been named Chief Executive Officer of the combined GetMusic- Farmclub.com operations. In this role he will be responsible for all of UMG's music portal activities around the world. Andy Nibley will report to Doug Morris, Chairman and CEO, UMG, and Zach Horowitz, President and COO, UMG. The newly combined operations will maintain headquarters in New York with offices in Los Angeles, Nashville and London.

``The joining of GetMusic and Farmclub.com operations builds on the strength of both companies and creates one of the Web's most compelling online music content destinations,'' said Zach Horowitz. ``Both attract a strong, loyal and growing audience. Andy Nibley has developed GetMusic into one of the Internet's most popular music sites and he's one of those rare executives with great creativity and strong business acumen.''

GetMusic LLC was established in April 1999 as a joint venture between UMG and BMG. The Farmclub.com website launched in February 2000 will continue to help unsigned artists by making their music available for downloading and streaming, in addition to presenting music, videos and interviews.