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Universal acquires MBO from Nordisk Film

MBO, the music company owned by Nordisk Film and founder Michael Ritto since 2006, has been sold to Universal Music.

Regarding the sell-off, CEO of Nordisk Film, Allan Hansen says: "We have assessed that the best way to secure a healthy business is by placing it with a big, international operator with music as its core business. Nordisk Film will use the sell-off to increase focus even further and continue to expand our other activities within entertainment."

Together MBO and Nordisk Film have run two joint venture companies: Nordisk Special Marketing (NSM) and Nordisk Trading Company (NTC). In December 2010 Nordisk Film bought MBO's stocks in both companies, and today there are integrated parts of the distribution business of Nordisk Film.

Michael Ritto founded MBO with his business partner, Benny Bach, seven years ago. The company has been the administrative center for a number of record companies, such as RecArt, Copenhagen Records and A:larm. MBO is the third largest music business in Denmark with a share of 17%, Universal Music is the biggest and commands the market with 25%. The Swedish company Roxy Music is also a part of MBO.

Since 2008, when Michael Ritto's partner resigned, Nordisk Film and Ritto's company Burrito A/S have owned 50 % of MBO each. Universal Music acquires both stakes.