Warner Music Group Corp. said it agreed to buy a majority stake in Roadrunner Music Group BV for $73.5 million.
The Dutch record label, which is known for its heavy metal lineup, will be a freestanding label within the Atlantic Records Group, Warner Music said.
Warner, based in New York but with significant Burbank operations, will get a 73.5 percent interest in Roadrunner, whose founder, Cees Wessels, will run the unit.
Roadrunner has seen its market share increase two percentage points in the last year, thanks to the strong-selling sophomore album, “All the Right Reasons,” from Canadian band Nickelback. The deal also brings bands Slipknot and Megadeth to Warner.