ROW Entertainment Poised to Buy KOCH Entertainment for $80 Million
KOCH Entertainment announced yesterday that it has entered into a definitive agreement to be purchased by the ROW Entertainment Income Fund. KOCH Entertainment is one of America’s largest independent record, music publishing, and distribution companies as well as an independent video label and distributor. The announcement was made by Michael Koch, founder and CEO of KOCH Entertainment.
ROW is buying the business for a total purchase price of approximately $80 million. The acquisition, which has been approved by the trustees of ROW, is scheduled to close by June 1, 2005.
Founded 19 years ago by Michael Koch, KOCH Entertainment produces and markets, under KOCH’s own private labels in the following genres: Adult Contemporary, Country, Urban, Hip-Hop, and children’s music. KOCH also has a controlling interest in DRG Records Inc., a leading independent theater music label. KOCH’s own record label, KOCH Records held the largest number of Billboard Top Independent Albums chart positions during each of the last four years.
Its classical division, KOCH International Classics, has released many CDs of contemporary American composers including discs devoted to the music of Libby Larsen, Ellen Taaffe Zwilich, Jerome Kitzke, and George Tsontakis. Recent CDs also include contemporary music recital discs by cellist Maya Beiser, pianists Kathleen Supové and Anthony de Mare, and the Imani Winds. Independent labels distributed by KOCH include Chandos, Mode, New Albion, Ondine, and Tzadik.