Universal Music Group to Sell Black Sabbath Label to BMG Rights

Vivendi SA’s Universal Music Group, the world’s biggest record company, agreed to sell the label of Black Sabbath, Iron Maiden and Megadeth to BMG Rights Management as part of disposals required by regulators.

The deal for Sanctuary Records is among the asset sales asked for by European regulators after Universal Music’s acquisition of EMI Group and is the second label bought by BMG Rights among those on offer, BMG Rights said in a statement today. The Sanctuary label was sold for 40 million pounds ($62 million), two people with knowledge of the transaction said.