The daily "Jamaica Observer" reported in its columns a few weeks ago on the possible sale of the English reggae label Greensleeves. Reached by telephone, the label confirmed to us its takeover by ZEST (an independent label whose boss Steve Weitman produced the Pet Shop Boys and Wet Wet Wet) for the sum of £3.25 million (4.7 million euros).
A takeover that raises the question of the consequences for the artists signed to Greensleeves, notably Vybz Kartel, Fantan Mojah and Macka Diamond, firmly anchored in the upper reaches of the charts. Contacted by telephone, the Greensleeves team assured us that the label's policy will remain the same in the years to come.
Moreover, ZEST has reported negative results, with a loss of £352,000 (around 500,000 euros) before tax. The takeover of Greensleeves should, according to the label, allow them to break even.