Kuke Music Holding Limited Reveals Strategic Purchase of Majority Stake in Naxos Music Group

Acquisition Announcement: Kuke Music Holding Limited has acquired a controlling interest in Naxos Music Group for approximately $106.35 million, enhancing its position in the classical music services market.

Transaction Details: The acquisition involved a share subscription and purchase agreement, resulting in Kuke holding about 70.43% of Naxos One, which controls Naxos Music Group, with the transaction settled through the issuance of Kuke's Class A ordinary shares.

Strategic Rationale: This acquisition aims to create synergies between Kuke's music education platform and Naxos's extensive catalog and distribution network, positioning Kuke as a leading classical music services platform.

Company Background: Kuke is a prominent classical music service provider in China, offering a vast library of music tracks and educational services, while Naxos is recognized as a leading independent classical music organization with a global reach.