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This article was published on November 3, 2021
Paris-headquartered Believe has acquired a 25% stake in Play Two, one of France’s leading independent labels.
Believe said today (November 3) that the deal would accelerate the digital growth of Play Two, which remains a subsidiary of the TF1 group.
Believe didn’t disclose a price for the deal, but did say: “The transaction values Play Two at just under €50 million on a 100% basis.”
As a result, it’s fair to assume that, for a 25% stake, Believe paid around €12.5 million (approximately USD $14.5 million).
To read the entire story click on the link – https://www.musicbusinessworldwide.com/believe-buys-25-stake-in-french-indie-label-play-two-for-around-14-million/
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