Story perspectives

Virgin Music Acquires Downtown Music for $775 Million

2/20/2026

Summary

Story summary

Virgin Music Group completed a $775 million acquisition of Downtown Music Holdings and named Pieter van Rijn, the former Downtown Music Holdings CEO, as chief operating officer.
Van Rijn will oversee global operations and integrate Downtown's services with Virgin's distribution, including FUGA and CD Baby.
The European Commission approved the deal after Virgin divested Curve to address data-access concerns.
Justin Kalifowitz, founder of Downtown Music Holdings, confirmed his departure.

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Story summary

Virgin Music Group completed a $775 million acquisition of Downtown Music Holdings and named Pieter van Rijn, the former Downtown Music Holdings CEO, as chief operating officer.
Van Rijn will oversee global operations and integrate Downtown's services with Virgin's distribution, including FUGA and CD Baby.
The European Commission approved the deal after Virgin divested Curve to address data-access concerns.
Justin Kalifowitz, founder of Downtown Music Holdings, confirmed his departure.