ACQUISITIONS: Sold: Sugar Pie Honey Bunch

Sold: Sugar Pie Honey Bunch

The record industry heard it through the grapevine: Berry Gordy Jr., the former Detroit autoworker who founded Motown Records nearly 30 years ago, was shopping the company around. No one was dancing in the streets about that idea, since Motown ranks as one of the largest black-owned businesses in the U.S. But last week Gordy announced that he would sell it to the Los Angeles- based entertainment conglomerate MCA and a group of private investors for $61 million.

MCA will get the valuable catalog of hits by such artists as the Supremes, along with a roster of still working stars including...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!