Christian music's biggest label Word Inc. to be sold by ABC Television.

IN AMERICA ABC Television have put their gospel music company Word on the market. Word Inc are the holding company of British record giants Word (UK) Ltd, who this year celebrate their 25th anniversary.

Robert Lundy, President of Word Inc said that the relationship between Word and ABC "had been beneficial over the past eighteen years" and has "provided us with financial strength that has allowed us to flourish and to broaden our author/artist rosta and product base".

It seems unlikely that Word (UK) will be sold off as a separate entity. New York financial giants Goldman Sachs, appointed to handle the sale of Word, told Cross Rhythms that it was ABC's intention to sell the company as a single entity. Through licensing deals already in place, Word (UK) is a clearinghouse for US product, not only from the Word Inc catalogue but all the other major American Christian music companies including Sparrow, Benson, Frontline, Pakaderm and Maranatha! Music, into the whole of Europe, making it an interesting proposition for US media companies keen to get a foothold in Europe.

Dave Withers, Marketing Director of Word (UK) explained the feeling at the company's UK headquarters in Milton Keynes. "We are happy with the way things are going. The company is going to be sold as a whole, and we are committed to that. We are not considering a management buy-out of Word." When asked what changes this meant for Christian music in the UK he replied, "Probably nothing, it all depends who buys us, whether they are a Christian firm or not. But even if we are bought by a non-Christian firm, I do not think it will make much difference, as ABC are a secular company."

Word (UK)'s A&R Director, Dave Bruce, said, "there is a lot of interest in the States for us at the moment. Several companies are currently in the running. I would expect that everything would be completed by the end of this year."