SAMRO to sell Dramatic, Artistic and Literary Rights Organisation
SAMRO will be selling the subsidiary to a consortium led by DALRO MD Lazarus Serobe.
The Southern African Music Rights Organisation (SAMRO) has reached an agreement to sell its subsidiary, The Dramatic, Artistic and Literary Rights Organisation (DALRO) to a management consortium led by Lazarus Serobe, DALRO’s MD.
“DALRO has operated well under the guardianship of SAMRO and we look forward to our continued relationship, as entities with a common purpose of protecting copyright” says Lazarus.
SAMRO chairperson Nicholas Maweni says the transaction is one of several organisational restructuring outcomes in line with the company’s strategy to reduce operating costs and improve efficiencies within the organisations.
“The buy-out transaction will give DALRO ample opportunity to continue to service the sector as an independent, sustainable going concern” concludes Lazarus.