Hard News reports that there are some interesting moves going on in the German record company scene.

In an as yet unpublicized move, it appears that Germany's SANCTUARY/NOISE RECORDS has all but abandoned their artists, with several longtime staffers also leaving the once prominent metal label. Sources say that 20+ bands have either been dropped, or let out of their contract! The only non-casualty seems to be Kai Hansen's GAMMA RAY. The label has apparently had a change of direction, seeking to sign older, established acts, rather than breaking newer ones (a death blow for scene longevity, taking the current profits, without building for the future. How North American of them)! In an ironic bit of related news, several of the departed former Sanctuary employees have banded together to start their own label, backed by Iron Savior founder/guitarist Piet Sielck, who was instrumental in the formation of HELLOWEEN, along with Hansen.

If this is true, lets hope the bands can quickly find new labels for their material.