Warner Music Group has fully acquired Polskie Nagrania (Polish Recordings), Poland’s oldest record label, for 8.1 million Zloty (€1.94m).
Polskie Nagrania boasts a catalogue of over 30,000 recordings of Polish artists dating back to when it was founded in 1956.
Its roster includes material from classical, jazz, rock and pop performers including Czesław Niemen and Marek Grechuta, Tomasz Stańko and Krzysztof Komeda.
When Polskie Nagrania was formed in then-communist Poland, the state-owned company had a monopoly on recorded music in the territory.
It had recently gone into liquidation, and Warner’s successful bid for the company represents the third time the Polish Government had put it to auction.
Warner Music Poland was founded in 1994. As well as working with Warner’s material, it distributes labels in the region including Warner Classic, Nuclear Blast and Roadrunner Records.
The label’s CEO, Piotr Kabaj, told the local media that Warner bought Polskie Nagrania because of its “excellent catalogue” and confirmed that the company will keep the firm’s historic logo alive.
Music Business Worldwide
