Edward Christie and Steve Beatty, owners of the long-running U.K. record label Candlelight, have sold the company's assets to Spinefarm Records, the hard rock label owned by the Universal Music Group.
In an e-mail sent to all Candlelight artists and obtained by BLABBERMOUTH.NET, Christie and Beatty explained that they "made an informed choice to leave the label in the hands of a well-respected metal label backed by the world's biggest record company.
"[Spinefarm] have shown an understanding and respect for what we do and are looking forward to working with Candlelight's artists," they said. "We also feel that they will treat the catalogue with respect."
They added: "Dante Bonutto, who heads up [Spinefarm's] European team, is a well-known figure in the U.K. metal scene both as a journalist and A&R person, and Jonas Nachsin, who formerly ran the U.S. division of Roadrunner and now looks after Spinefarm's worldwide operation, are both very excited and committed to continuing the development of the Candlelight label and its artists, for whom they have great respect."
As to how the bands' individual recording agreements will be affected by the sale, Christie and Beatty said: "Contractually, nothing will change. All future album options and commitments as well as accounting will continue as agreed in [the artists'] contracts. [For] all those [who] have signed licensing agreements, the terms of the licenses will remain in place and will terminate on the due date."
Christie and Beatty stated about time with Candlelight and their decision to leave the company behind: "It's been a great ride and we are immensely proud of what we have achieved in those years. We have enjoyed working with [all the artists] and it has been great to have made some genuine friendships along the way. We have released some amazing music, some of which can genuinely be termed as classics of their genres, a major achievement. We have also released some records that were received so badly that frankly people thought we were insane, but we liked them and we thought they should be heard."
In 2001, Candlelight established U.S. operations, with former Nuclear Blast America president Paula Hogan heading up its Philadelphia-based U.S. structure.
Candlelight is distributed in North America by Caroline. European distribution is exclusive via Plastichead.
Candlelight's current artist roster includes such acts as IHSAHN, VISION OF DISORDER and ABIGAIL WILLIAMS.