JOHANNESBURG — THE final rites have been read for Mzansi gospel powerhouse Bula Music.
Bula, which unearthed and exposed gospel big guns Lundi Tyamara and Sechaba Pali, among others, has been bought by Gallo Records for an undisclosed amount.
Two sources — a staff member and former shareholder — told Sunday World that the stable mandarins agreed to sell to Gallo because Bula was in financial trouble.
Gallo is owned by Times Media Group, the parent company of Sunday World.
Gallo general manager Neil Greenberg confirmed the deal, but rubbished claims the stable was financially in the red.
“Bula Music was not and has not been under any financial duress,” he said.
“In fact, quite the contrary, which is why Gallo Records was interested in purchasing a very successful independent label.”
Greenberg said the acquisition of Bula was part of a plan to expand growth.
“The purchase of this label adds an amazing line-up of catalogue releases for physical and digital exploitation, as well as a selection of exciting established artistes’ new release offerings from October 2014.
“These additions to the Gallo catalogue will also add huge benefit to digital sales as well as continued focus within the retail CD marketplace.”
Greenberg said Bula staff would not come over to Gallo with the sale.
“Bula Music had shared resources with IMD, their sales and operational staff remains at IMD.
“Bula’s CEO (Harvey Roberts) will remain on contract with Gallo Music for the foreseeable future to support the intergradation and growth of the businesses,” he said.
Roberts declined to comment on the acquisition and referred all questions to Gallo.
— Sunday World