NewsNovember 11, 2010 12:26 PM ET7,237 views

Warner Music fully acquires Roadrunner Records

Warner Music Group now completely owns Roadrunner Records, the venerable metal/rock label it first acquired a majority stake of in early-2007. While not suprising, the move will apparently leave a notable portion of Roadrunner's staff without jobs. Billboard has published the following internal memo distributed by Roadrunner CEO, and founder, Cees Wessels: "Since joining the Warner Music family, we have enjoyed some of our greatest creative and commercial successes as a label. Most importantly, we have retained our unique identity while also expanding our horizons, thanks in part to the tremendous expertise and experience we can tap into as part of the Warner Music family and the relationships we have built with our Warner Music colleagues around the world. I am very proud that Roadrunner is now a fully-fledged stable mate of such iconic labels as Atlantic, Warner Bros. Records, Elektra, Asylum and Rhino, and I believe that we are in this position thanks to our team's hard work and consistently original approach over the years. The vast majority of our staff around the world will experience little or no change to their roles. However after carefully reviewing our operations, we have decided to transfer the support functions across to our Warner Music colleagues in some territories. This is not an easy process to undertake, but we believe that, by making these changes, we can take Roadrunner to the next level by focusing our resources on marketing our existing line-up of acclaimed artists as well as discovering the stars of tomorrow."

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