According to Music Business Worldwide, Century Media, one of the best-known independent heavy rock labels in the world, will be acquired for $17 million by Sony Music Entertainment.

The company, which has more than 50 staff across the U.S. and Europe, was said to be valued somewhere between $15 million and $20 million.

Century Media was instrumental in the careers of heavy music acts like IN THIS MOMENT, SUICIDE SILENCE, SHADOWS FALL, LACUNA COIL and many more.

Century Media's parent company, The Century Family, includes several other labels: Another Century (rock), InsideOut Music (progressive), People Like You (post-punk, alternative) and Superball (alternative, modern progressive).

Robert Kampf founded Century Media in 1988, with co-owner Oliver Withöft coming onboard roughly a year and a half later.

Withöft passed away in January 2014 at the age of 49 after a long period of illness.