BMG buys Rise Records

Major label BMG has purchased independent label Rise Records. The label was founded by Craig Ericson, who will still be with the company after the purchase. The financial terms were not disclosed. Teenage Bottlerocket, Polar Bear Club, and 7 Seconds all recently released records on Rise.
Laurent Hubert, president of creative & marketing at BMG Chrysalis US stated:

"Rise Records is more than a record label. It is a cultural phenomenon which has harnessed digital media to create a genuine community. We are delighted to partner with Craig and his team to give Rise’s artists access to BMG's world-class admin services and international network."