Warner Music buys into Serbian record label Mascom

Neither the size of the stake, nor the price of the deal were disclosed.

The move will see the two companies working together to build a roster of local artists, with the opportunity for acts to be up-streamed into WMG’s global network, WMG said in a press release last week.

The two companies have been working together for over two decades already, with Mascom acting as Warner Music's local distributor.

"This next stage of our partnership will allow local Serbian artists to join a major record label and enjoy worldwide success," Mascom CEO Slobodan Nesovic was quoted as saying.