Monday, July 24, 2006


Struggling uber-indie label and management company Sanctuary is facing a takeover bid from MAMA - and, if need be, MAMA is prepared to be hostile.

Sanctuary have, apparently, yet to respond to the offer; difficulties incurred through growth have left the company forecasting losses of up to twenty-two million quid for the year to September.

Equally unknowable at the moment is if MAMA are interested in the whole of Sanctuary's business, or if it would be looking to offload the record company part of the operation - a sizeable gem that might satisfy either EMI or Warners without causing them too many problems with the regulators.

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