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Finland's Spinefarm Records has announced Universal Music Oy, the Finnish arm of Universal Music, has bought "controlling interest" in the company.

Finland's Spinefarm Records has announced Universal Music Oy, the Finnish arm of Universal Music, has bought "controlling interest" in the company.

Spin-Farm Oy, the parent company of Spinefarm Records, Spikefarm Records, Ranka Recordings, Odor, Freeride and Hawaii Sounds, says the deal won't affect domestic or foreign relations, which include licensing deals to Century Media and Nuclear Blast in Germany and Century Media and Relapse Records in North America.

Spin-Farm Oy states that the buyout won't affect president Riku Pääkkönen's position or the labels' employees and that the whole staff is able to stay on as part of the deal.

Source: Digitalmetal

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