Konami Might Buy Music Label

Game maker Konami is currently in talks with JVC Kenwood over the sale of music subsidiary Victor Entertainment Inc., reports Japanese newspaper The Daily Yomiuri.

According to analysts, the music industry will realign itself better with online distribution and “pick up speed”.

Universal Music LLC is also on the table as a potential buyer, but insiders say Konami is the most likely purchaser. Victor Entertainment’s music catalogue features acts like SMAP and Southern All Stars, two of the biggest selling music groups in Japan.

Producing records since 1928, Victor Entertainment was the music business of Victor Talking Machine Company’s Japan branch and was spun off as a record company in 1972. It currently only has 7 per cent market share in Japan, behind Universal Music, Avex and Sony Music Entertainment Japan.

JVC Kenwood hopes the sale will help the company focus on its core audiovisual product business.

Konami set to buy Victor’s music business [DAILY YOMIURI ONLINE]