Minos EMI - Merger With Minos Matsas & Son

Merger With Minos Matsas & Son

In 1991, EMIAL purchased a controlling share of Minos Matsas & Son, a record company founded by pioneering Greek music industry executive and prominent rebetiko musician Minos Matsas, in 1927, and which also edited music under the label Odeon and which produced, since then, records under the Minos label. "Minos Matsas & son", under CEO Makis Matsas (who become CEO of the new entity) was then the market leader with a 22% market share while Emi stated at 9%. The new joint-venture was named Minos EMI and thus controlled approximately one third of the Greek market. The union was not easy and while EMI was now, in value and figures, controlling financially Minos Matsas & son, it was like if this company was, in fact, taking over EMI Greece. The two distribution centers merged in one at the historical building EMI Greece was located at Rizoupoli (suburb of Athens) while most of the remaining staff joined Minos' spot at Messogeion avenue. The financial department remained under the responsibility of EMI CFO Panayotis Papalimberis, while the artistic direction of the new entity went under Minos A&R managers : Achileas Theofilou, Elias Benettos and Vangelis Yannopoulos. EMI international repertoire manager, Manos Xydous undertook a new A&R role with the revival of EMI's Harvest label. Finally, a new MD was appointed coming from the same position at Sony Music Greece, Costas Bourmas.