Sanctuary Group goes classical with pounds 1.27m ASV music deal

SANCTUARY GROUP, the media business which manages heavy rock group Iron Maiden, yesterday bought a classical music record company, ASV, for pounds 1.27m in cash and shares.

Sanctuary exploits intellectual property rights in media, music and entertainment, and recently bought the TV rights to the Enid Blyton's Adventures and Secrets series. ASV owns a catalogue of more than 1,000 titles from Vivaldi and Wagner to Louis Armstrong and Duke Ellington. As part of the deal, ASV's managing director, Hywel Davies, will become managing director of Sanctuary Music Productions and will also become commercial director of Sanctuary Enterprises.

Andy Taylor, chief executive of Sanctuary, discovered Iron Maiden and still manages them.

In the year to 31 May 1998, ASV made profits after tax of pounds 146,000 and had net assets of pounds 522,944.