Virgin Music Group, the independent-distribution and artist-services division of Universal Music Group, has announced the completion of its $775 million acquisition of Downtown Music Holdings LLC, one of the largest artist-services companies in the world.
At the same time, Pieter van Rijn was appointed chief operating officer, having been CEO of Downtown since last year (and previously CEO of Netherlands-based distributor and services company FUGA). He will report to Virgin co-CEOs Nat Pastor and JT Myers and will continue to be based in Amsterdam.
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