Warner Music is reportedly laying down $67.5 million to purchase indie label Rykodisc according The Hollywood Reporter.
Founded by Don Rose in Salem, MA as a CD only re-issue label, the catalog now includes Restless Records titles by the Flaming Lips, the Replacements and Soul Asylum. Ryko’s own recent roster has included Big Star, Sugar, Morphine, Medeski, Martin & Wood, and Mickey Hart. But the label has floundered after an ill fated takeover by former Island and Palm head Chris Blackwell who divested himself of the label several years ago.
