Sanctuary considers sale of business

Troubled music management group Sanctuary said today it is looking into the sale of some of its businesses as it attempts to return to profitability.

The news came as the group posted operating losses of £56.7m (€86m) for the year to September 30, an improvement from the £136m (€206m) loss in 2005.

The firm, which has Elton John, Iron Maiden and James Blunt on its books, said options to release value from the firm included the possible sale of its interest in Rough Trade Records, along with continued moves to cut the number of artists at its artist management arm.