Warner paid $67.5 million for the independent label, and explained the acquisition:
Recognized as a leader in independent music with a diverse catalog spanning many musical genres and eras, and an award-winning independent distribution company and label, Ryko is a perfect complement to WMG's existing businesses. By applying WMG's marketing expertise, strength in the digital space and its leading position in U.S. independent distribution, we're confident that we will be able to maximize Ryko's value. We look forward to working with Ryko's talented and passionate team in realizing Ryko's potential.
You can visit out Rykodisc page for recent coverage of the label.