Boosey buys US shareholder
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.BOOSEY & Hawkes, the British music publisher and instrument maker, yesterday removed a threat to its independence by buying Carl Fisher, its 38.4 per cent shareholder.
Musicians had feared for the group since Carl Fisher, a US publisher, put itself up for sale 12 months ago.
A sale would have included the stake in Boosey & Hawkes, threatening the company's independence. In the last year, speculation has run high that the company would be bought by a US firm - or by EMI.
Peter Austen, finance director, said: "We are delighted we have achieved this. It's been a difficult 12 months and it hasn't been good for the business. Inevitably there is some management distraction when this is hanging over your head. But we're really pleased."
The $55m (pounds 33m) rescue was arranged by setting up a new company, Boosey & Hawkes Group, and placing 6.5 million new shares with the company's other shareholders. The shareholders were persuaded to buy Carl Fisher.
Mr Austen said the group would stick with its strategy of expanding by acquisition.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments