Universal Music Group has spent about $46 million on a 70 percent interest in the catalog of Thailand’s RS Music. Photo Credit: RS Group
With Thailand’s music and entertainment spaces continuing to achieve rapid growth, Universal Music Group (UMG) has acquired a 70 percent interest in the catalog of RS Music – a Bangkok-based company that’s involved with a number of prominent regional acts.
RS Group (SET: RS) just recently announced its tie-up with UMG in a formal release as well as a regulatory disclosure. One of the conglomerate’s many divisions – the company likewise owns RS Mall (“a multi-platform shopping destination for holistic health and wellbeing”) and IPO’d a lending and debt-collection business called Chase Asia last year – RS Music has since April been expected to arrive on Thailand’s stock market by 2024.
And according to higher-ups, these plans are…
