Moviebox in talks for Oriental Star Agencies takeover?

Popular Bhangra music label, Moviebox (Birmingham) is rumoured to be in takeover talks with Oriental Star Agencies (OSA).

According to online message board, Punjab 2000, Moviebox is working out a deal to buy out the entire music library of OSA, which include the back catalogue of Nusrat Fateh Ali Khan, Malkit Singh, Atta Ullah Khan, Anari Sangeet Party, amongst others.

The report is valuing the deal at �3.5 million by OSA, while Moviebox is willing to pay around �1.5 million for the whole catalogue.

Recently, Moviebox acquired the rights to digitally release the Bally Sagoo collection from OSA including the huge Bollywood Flashback LP.

At the time of going to press, BizAsia was awaiting a response from the parties involved.