Report: SANCTUARY GROUP Is 'Worth Less Than Nothing'

[LuvataciousSkull]

Times Online is reporting that Sanctuary Group, the music company which handles artists such as GUNS N' ROSES, IRON MAIDEN, SLIPKNOT and SLAYER, gave warning on Friday (Oct. 28) that it would have to take a multimillion-pound hit to its balance sheet as it fights to ensure its long-term survival.

The company told investors that its end-of-year balance sheet "will show net liabilities" — meaning that, technically, the business is "worth less than nothing," according to Times Online.

Shares in Sanctuary plunged 15 per cent as the company said that it was reviewing its accounting policies, as well as dealing with the consequences of a dismal year of trading.

Sanctuary is also planning on making 175 staff redundant to cut costs, twice the amount planned initially. According to analysts, that exercise will cost an estimated £8 million, to achieve annual cost savings of about £16 million.

Read more at Times Online.

http://www.roadrun.com/blabbermouth.net/news.aspx?mode=Article&newsitemID=43523

 

[DumbAss]

Have they pointed the finger at downloading yet?

 

[jpike]

Slayer is with Warner-Bros. records now.

 

[JohnThrax]

Slayer is with Warner-Bros. records now.

thats the company that releases their records. Thats different than management

 

[mrthrax]

is sanctuary owned by iron maiden?

 

[Drokk]

is sanctuary owned by iron maiden?

Sanctuary Group is run by Rod Smallwood (among others, I'm sure), who has been Maiden's management for years and years.

 

[spitzs lazy eye]

The bosses have been putting too much money in their own pockets. Same rules apply to everyone, if you can't manage your money, then their will be no business. Maybe they should drive to work for once and save on jet fuel

 

[Thrillho]

Fucking A why even bother anymore. The music Business will be 1 major label in a matter of a few years. There is only 3 major labels now anyway. And Sanctuary actually seemed like a non pop bands answer to a label. And now they are going under to. Sorry, Anthrax, you just have shit luck with labels.

 

[Arg_Hamster]

Have they pointed the finger at downloading yet?

We´ll give it a day or two. Bet they are gonna find a way to blame GTA and Michael Jacksons latest monkey for their finacial problems too.

 

[DumbAss]

We´ll give it a day or two. Bet they are gonna find a way to blame GTA and Michael Jacksons latest monkey for their finacial problems too.

Haha..... or the rising Price of Gas.

 

[Arg_Hamster]

Haha..... or the rising Price of Gas.

Yeah, their ass-gas.

 

[LuvataciousSkull]

We´ll give it a day or two. Bet they are gonna find a way to blame GTA and Michael Jacksons latest monkey for their finacial problems too.

Funny. Isn't this the same board that ragged on the people who downloaded "We've Come for You All" instead of buying that album?

 

[dailyvault]

Oh, how I wish that CMC International was still around - the promotion still wasn't good, but from the people I worked with over there, they seemed to be cool with the press and gave reviewers like me any disc we'd ask for. Also weren't afraid to give out copies for contests.

Still, a lot of discs went into promotional Valhalla. Mike Tramp's solo CD "Capricorn," Iron Maiden's "The X Factor" (which I happened to like), Judas Priest's "Jugulator," and - believe it or not - Christopher Cross. I try to play these discs on my radio show to build up some belated interest in them... too bad some are out of print now.

 

[DumbAss]

Funny. Isn't this the same board that ragged on the people who downloaded "We've Come for You All" instead of buying that album?

Sure wasn't me??? I buy most of my albums, I've paid cash for over 400 Cds, but if I wanna download... try and stop me.

 

[LuvataciousSkull]

Oh, how I wish that CMC International was still around - the promotion still wasn't good, but from the people I worked with over there, they seemed to be cool with the press and gave reviewers like me any disc we'd ask for. Also weren't afraid to give out copies for contests.

Still, a lot of discs went into promotional Valhalla. Mike Tramp's solo CD "Capricorn," Iron Maiden's "The X Factor" (which I happened to like), Judas Priest's "Jugulator," and - believe it or not - Christopher Cross. I try to play these discs on my radio show to build up some belated interest in them... too bad some are out of print now.

Wow! I know what you mean, too! I play a few songs for albums that didn't sell well, but deserved better. Alice Cooper "Brutal Planet" comes to mind. But I might check out those albums since you mentioned them. I know the Maiden and Priest albums are still around, so wish me luck!

 

[LuvataciousSkull]

Sure wasn't me??? I buy most of my albums, I've paid cash for over 400 Cds, but if I wanna download... try and stop me.

I know what you mean. Heh, that's me to a tee! But I remember reading in my thread about the Sales Numbers for WCFYA that people said it didn't sell too well because more people most likely downloaded it instead of buying it.

 

[DumbAss]

I know what you mean. Heh, that's me to a tee! But I remember reading in my thread about the Sales Numbers for WCFYA that people said it didn't sell too well because more people most likely downloaded it instead of buying it.

Haha, well ya can't blame them for trying. It's as good an excuse as any. WCFYA is, in my opinion, their best album. But if it didn't sell, it had no more to do with downloading than any other album's sales.

 

[Arg_Hamster]

Funny. Isn't this the same board that ragged on the people who downloaded "We've Come for You All" instead of buying that album?

I did both because I wanted to hear it and not have to wait a week before CDON got it.

 

[DumbAss]

I did both because I wanted to hear it and not have to wait a week before CDON got it.

So you swing both ways.

 

[Arg_Hamster]

So you swing both ways.

Yeah, that way I can stick with the opinion of the day!