Photo Credit: The Cars by E.J. Camp

Primary Wave Music announces a royalty deal with The Cars. This deal comes less than a year after partnering with the Estate of Ric Ocasek on his publishing catalog.

Independent publisher Primary Wave Music has announced their partnership with The Cars. Terms of the deal will see the publisher acquire the band’s artist royalties. It comes less than a year after Primary Wave partnered with the Estate of Ric Ocasek on his music publishing catalog—including all songs from his time with The Cars.

Included in the deal are some of The Cars’ biggest hits, such as “Just What I Needed,” “You Might Think,” “My Best Friend’s Girl,” “Drive,” and many more. Released in 1984, “Drive” was the band’s highest charting single, soaring to #3 on the Billboard Hot 100 on release. The song topped the Adult Contemporary chart and went on to be nominated for a Grammy in the category “Best Pop Performance by a Duo or Group with Vocal.”

“Together with last year’s partnership for Ric Ocasek’s publishing, Primary Wave is uniquely positioned to preserve and honor the legacy of The Cars,” says Samantha Rhulen, SVP of Business and Legal Affairs at Primary Wave. “Their music has left a lasting imprint on culture and continues to inspire fans and musicians around the world. It’s a privilege to be entrusted with this partnership.”

The Cars formed in Boston in 1976, fronted by singer, songwriter, and rhythm guitarist Ric Ocasek, bassist and vocalist Benjamin Orr, lead guitarist Elliot Easton, keyboardist Greg Hawkes, and drummer David Robinson. Combining elements of new wave, rock, and pop, The Cars quickly became one of the most influential and successful bands during this time. Their music was characterized by catchy hooks, sleek production, and a blend of synthesizers and guitar-driven rock.

The Cars reached the height of their popularity with Heartbeat City in 1984, an album that produced several major hits, including “Drive,” “You Might Think,” and “Magic.” The album was also recognized for its innovative music videos, particularly for “You Might Think,” which won the first-ever MTV Video Music Award for Video of the Year. During this time, The Cars became one of the biggest bands in the world, selling millions of albums and filling arenas with energetic live performances.

The band’s legacy was officially recognized when they were inducted into the Rock and Roll Hall of Fame. Their music continues to influence new generations of artists, and their blend of rock, new wave, and pop remains a staple of classic rock radio.

VNYL’s Nick Alt and Emily Muhoberac, who have signed on as CEO and COO of Vinyl Me, Please, respectively. Photo Credit: Virginia Harold

Less than one month after entering liquidation, Vinyl Me, Please (VMP) has officially found a new owner and relaunched with a “remastered mission.”

The Denver-based vinyl-subscription club formally revealed the change of hands today. Now, Vinyl Me, Please is poised to keep on operating – albeit as a subsidiary of VNYL Inc., which operates a namesake vinyl subscription of its own.

Headquartered in Saint Louis and founded in 2014, VNYL curates records for its subscribers on a monthly basis. And while one vinyl-subscription service buying another seems like a solid fit, it’s also worth noting that VNYL counts Someday Capital partner Nick Alt as its founder.

Alt has signed on as CEO of VMP, with VNYL president Emily Muhoberac beginning as president and COO. As to where the just-purchased company goes from here, both execs underscored plans to start “rebuilding trust with longtime subscribers,” many of whom remain vocal about their unfulfilled orders.

“This isn’t about reinventing Vinyl Me, Please,” spelled out Alt, previously a Vimeo and Stem exec. “It’s about restoring its true form as the ‘Best Damn Record Club.’”

“Vinyl customers deserve a white glove experience and that’s far from what they’ve gotten recently,” added Muhoberac, who doubles as a partner at vinyl-focused lender Vinyl Capital Partners. “We intend to do that by getting back to the fundamentals of VMP with a great customer experience.”

Longer term, the higher-ups touched on plans to integrate VMP into their broader vinyl portfolio – with various subsidiaries zeroing in on particular consumer segments.

VMP will cater to collectors “seeking premium audio experiences,” for instance, with the VinylBox unit selling to “millennials balancing aesthetic and specific collection needs.” VNYL proper, for its part, will dial in on “Gen Z / Alpha seeking affordable curated vinyl for new turntables.”

“Our philosophy is simple: not every collector is the same,” Alt summarized of the approach. “Some customers want a Blue Note Anthology box set. Others are counting the days until the new Reneé Rapp LP drops. We’re building different clubs to serve different types of listeners—with pricing and curation that actually match their needs.”

Time will tell how the more carefully tailored model performs. Overall, despite vinyl’s years-running commercial resurgence, recent data has pointed to a possible growth slowdown.

Though it probably goes without saying, this potential slowdown is having a comparatively significant impact on smaller players like VMP and Qrates, to name a couple. The latter is still out of commission “due to unforeseen financial difficulties,” the relevant website shows.

Seated co-founders John Griffin (left) and David McKay, who’ve reacquired their company from Sofar Sounds. Photo Credit: Seated

Four years and change after selling to Sofar Sounds, Seated has officially been reacquired by its founders.

Seated co-founder and CEO David McKay, whose ticketing platform says it helps artists “gain fan insights and sell more” concert passes, announced the newly finalized deal in a brief blog post.

According to that message, the repurchase arrived as Somerville, Massachusetts-headquartered Sofar zeroes in “on their amazing global experiences business” under CEO Warren Webster, who came aboard in October 2024.

“Seated has achieved remarkable growth under Sofar Sounds’ ownership these last four years, becoming a vital partner to some of the biggest artists in the world,” Webster said in a statement to DMN. “We’re proud to have been part of that story, and as Sofar focuses on meeting the increasing demand in our communities for live experiences, we’re thrilled that Seated will continue to grow with its founders at the helm.

“At Sofar we are ramping up our efforts to bring even more people together through unforgettable live music experiences in unexpected places, as well as comedy, dance, art, food, wine and more. Our communities around the world are looking for more access to community and culture, and Sofar aims to deliver when it’s needed the most,” the former Atlas Obscura CEO concluded.

Eight-year-old Seated opted against publicly disclosing the transaction’s financials. But it did mention a number of its artist users – among them Ed Sheeran, Brandi Carlile, and Jelly Roll – and tout its operational vision as a standalone entity.

“This re-acquisition gives us the flexibility and focus to go deeper,” McKay summed up. “We’re doubling down on what we do best – building great software for artists to own their ticketing, capture and activate their fan data, and grow meaningful relationships with the people showing up to their shows.”

Of course, at the intersection of ticket-pricing concerns and a growing superfan emphasis, the highlighted objectives are even more relevant now than they were when Sofar bought Seated.

At least from the outside looking in, the process of splitting Seated from Sofar doesn’t appear to have been too involved. Worth reiterating here is that the parties at the time of their February 2021 deal clarified that Seated would “keep operating their services independently.”

On the personnel front, Billboard indicated that McKay will remain at the helm of the once-again-independent company, with CTO and fellow co-founder John Griffin also staying aboard. Per its LinkedIn profile, Seated has between two and 10 employees (with some claiming roles at both the business and Sofar).

In the bigger picture, following recent years’ avalanche of music-space acquisitions, Seated isn’t alone in selling back to its founders and original owners.

Likewise part of the list are ROSTR and Absolute Label Services (which Utopia Music offloaded in February and July 2023, respectively) as well as SoundBetter and Soundtrap (sold by Spotify in October 2021 and June 2023, respectively), to name a few.

Rodney Jerkins, who’s sold an interest in his work to HarbourView. Photo Credit: HarbourView

Let the IP acquisitions continue: HarbourView Equity Partners has officially purchased “select catalog assets” from veteran producer Rodney “Darkchild” Jerkins.

HarbourView disclosed the deal today – albeit without getting too specific about the precise song rights at hand or the transaction’s price tag. However, the Newark-headquartered firm in its formal release did emphasize that the play “was facilitated by” Sweden’s Chapter Two, which rebranded from Anotherblock late last year.

The still-live website homepage of Anotherblock not-so-subtly touts the producer credits under 47-year-old Jerkins’ belt. Just in passing, that includes contributions to releases from Michael Jackson, Justin Bieber, SZA, and several others.

Furthermore, in operating as Chapter Two, the business has pivoted from NFT music investments to developing catalog-acquisition tech, the appropriate site shows. In a February 2025 announcement that largely flew under the radar, Chapter Two said it’d sold songwriter interests in tracks from Lil Nas X and BTS for a total of over $6 million.

The “proprietary Royalty Engine normalizes and enriches financial data and forecasts future earnings through predictive royalty modeling, making catalog transactions quicker and more reliable for all parties,” Chapter Two summed up of its offering.

Evidently, the Engine is gaining at least some traction. Especially because HarbourView is hardly a stranger to catalog deals, it’ll be worth tracking Chapter Two’s presence in the volume-heavy space moving forward.

DMN reached out to HarbourView for additional insight here – including, in light of its dealmaking frequency, whether it has a stake in Chapter Two itself – but didn’t immediately receive a response.

In a statement, though, HarbourView head Sherrese Clarke applauded the career accomplishments of Jerkins; the “legendary” creator, for his part, had positive things to say about working with HarbourView and Chapter Two.

“HarbourView truly understands the value of music and the people who create it,” he weighed in. “Music creators deserve respect and clarity when it comes to selling their life’s work, and working with both HarbourView and Chapter Two has made that process feel seamless.”

And in remarks of his own, Chapter Two CEO Michel Traore described the perceived significance of the IP sale for the broader music sector.

“This transaction is a clear sign that creators are realizing the true value of their work faster and more transparently than ever before,” added Traore. “Rodney is setting a new benchmark in the industry, and we thank HarbourView for their vision in working with us.”

A live performance from Dirty Heads, which has sold “publishing and artist royalties” to Round Hill Music. Photo Credit: Constantino14

Back in “acquisition mode,” Round Hill Music has scooped up “a range of different rights and income streams,” among them interests in Rod Stewart’s “Da Ya Think I’m Sexy?” and Icona Pop’s “I Love It.”

Round Hill reached out with word of the plays today. Beginning on the compositional side, the UK-based IP investor now owns the publishing catalogs of Terry Shaddick, Linus Eklöw, and Carmine Appice.

Shaddick co-wrote Olivia Newton-John’s “Physical” (1981), which Doja Cat interpolated in “Kiss Me More.” Besides having a credit on the latter, Shaddick is billed as a songwriter on Benson Boone’s even more recent “Mystical Magical,” which also incorporated “Physical.”

Next, Swedish DJ Linus Eklöw, better known as Style of Eye, has sold his “full catalog of songs” to Round Hill. That pile of IP extends to Icona Pop’s “I Love It” as well as much-streamed dance efforts like Galantis’ “Runaway (U & I)” and “No Money,” the buyer indicated. (Eklöw was at one time a member of Galantis.)

Lastly, in terms of complete-catalog pick-ups, King Kobra and Vanilla Fudge vet Carmine Appice has drummed on a variety of commercially prominent releases.

And his work with Rod Stewart (on 1977’s Foot Loose & Fancy Free, ‘78’s Blondes Have More Fun, ‘80’s Foolish Behaviour, and ‘81’s Tonight I’m Yours) includes writing contributions to “Da Ya Think I’m Sexy?” as well as “Young Turks,” to name a couple.

Reggae rock group Dirty Heads, for its part, has cashed in on “publishing and artist royalties.” All told, the group behind “Vacation” has released eight studio albums since arriving on the scene decades back.

Finally, Scotland-born Al Stewart, most widely recognized for 1976’s “Year of the Cat,” has sold “a selection of…master rights” to Round Hill, which is managing five private funds at present.

While Round Hill didn’t come right out and disclose the transactions’ price-tag particulars, it did note that the deals boosted its portfolio’s cumulative value back past the $1 billion mark.

And in a statement, CEO Josh Gruss touted the involved IP’s perceived “potential for further monetization.”

“From timeless pop hits to reggae rock, yacht rock and electronic music, these catalogs contain songs with proven commercial success,” Gruss said in part.

“Spanning different genres and eras, these songs have huge potential for further monetization across streaming, film, advertising and much more. … Tracks like ‘Physical’ go to the very heart of Round Hill’s strategy – finding and celebrating songs which can continue to resonate with new generations long after their original release,” he proceeded.

Photo Credit: Robin Canfield

Live Nation expands its presence in Latin America through the acquisition of the Dominican Republic’s SD Concerts, a rising force in Central and South America.

Live Nation announces the acquisition of SD Concerts, the leading live entertainment company in the Dominican Republic and a rising star across Central and South America. The move bolsters Live Nation’s commitment to this fast-growing touring region and reinforces its mission to bring more live music to fans worldwide.

Founded in 2001, SD Concerts is behind many of the region’s most notable live events. The company promotes top Latin and international talent across the Dominican Republic, as well as supporting shows in Aruba, Chile, Colombia, Costa Rica, Guatemala, Panama, and Puerto Rico. SD Concerts also operates a ticketing platform, which currently services all SD events and provides a foundation for future ticketing expansion in the region. Through the acquisition, that platform will become part of the Ticketmaster ecosystem.

“Saymon and SD Concerts have built a remarkable business rooted in deep local knowledge and a passion for live music,” said Michael Rapino, CEO and President, Live Nation Entertainment. “We’re joining forces with a proven regional leader to help even more Latin artists reach global audiences and connect international acts with fans across Latin America.”

“Live music is thriving across the region, and we’re proud of the role SD Concerts has played in that growth,” adds Saymon Diaz, Founder & CEO of SD Concerts, who will continue to lead the business. “Partnering with Live Nation gives us the global infrastructure to scale even further and supports the next generation of Latin talent. This partnership will bring bigger shows to more locations and create even more unforgettable live music experiences for fans in the Dominican Republic and across Latin America.”

The concert industry is seeing continued momentum across Latin America, with Live Nation events seeing fan attendance in the region up over 25% in the first quarter of 2025. Growing demand for live experiences is supported by the global rise of non-English language artists, who now represent twice as many of Live Nation’s top 50 tours compared to 2019. This momentum underscores Latin America’s growing role as a powerhouse in global touring, and Live Nation’s role in building more opportunities for artists and audiences to connect.

Photo Credit: Chris Daughtry, lead singer of Daughtry, by Luis Blanco / CC by 2.0

Gebbia Media has acquired Big Machine Rock from Hybe America. The roster includes Daughtry, Badflower, Sammy Hagar, Olive Vox, and more.

Gebbia Media, a subsidiary of Siebert Financial Corp., has acquired Big Machine Rock, the rock imprint of Big Machine Label Group, which has played a major role in shaping the future of modern rock. The acquisition marks a new chapter in Gebbia Media’s rapid ascent within the music and media industries, where the company is focused on building an artist-first platform that blends creative storytelling with strategic investment. Big Machine Rock’s current roster includes Daughtry, Badflower, Sammy Hagar, Olive Vox, and Ryan Perdz, among others.

“Growing up with incredible music by iconic artists like Led Zeppelin, Van Halen, and The Doors, I recognize the importance of bringing rock to a new generation of listeners and fans, who are ready to embrace it,” says David Gebbia, CEO of Gebbia Media. “Big Machine Rock embodies the Gebbia Media approach: bold, cross-generational, and deeply in touch with the culture. This acquisition allows us to further our mission of empowering artists through investment in robust catalogs and cross-platform expansion.”

GM Heather Luke-Husong has led the label’s all-female team to achieve multiple No. 1 singles and Platinum-certified records in just a few years, making the indie-spirited imprint one of the most exciting labels to watch in the rock space.

Big Machine Rock has become a home for dynamic, genre-defiant acts whose influences stretch beyond traditional rock into country, alt, and metal, earning praise for its innovative approach and loyal artist base. Under Gebbia Media’s leadership, the label will prioritize artist development, immersive storytelling, and cross-platform visibility, meeting fans where they most are: onstage, online, and embedded in culture.

“This acquisition marks another step in Siebert’s commitment to innovating at the intersection of Finance and Culture. By bringing Big Machine Rock into the Gebbia Media portfolio, we’re aligning visionary talent with the resources and stability of a diversified financial platform, ensuring long-term growth and cultural impact,” says John J. Gebbia, CEO of Siebert Financial.

The move follows Siebert’s strategic partnership with GAMMA and L.A. Reid LLC for the breakout group SIMIEN, building on Gebbia Media’s growing partnership with global artist and entrepreneur Akon.

As part of the agreement, Scott Borchetta, founder of Big Machine Label Group, will continue to oversee operations and join the advisory board of Siebert Financial, parent company of Gebbia Media. Borchetta’s track record guiding dozens of top selling artists like Riley Green, Thomas Rhett, Reba, Dolly Parton, Taylor Swift, Sheryl Crow, Florida Georgia Line, and so many more, brings immediate strategic depth to Siebert’s expansion into media and entertainment, making him an invaluable addition to its advisory board.

Artists currently signed to Big Machine Rock will remain part of the label’s roster and will benefit from expanded resources, promotional capabilities, and global reach.

Photo Credit: Paolo Villanueva / CC by 2.0

CGL, the company behind the biggest tours, such as Taylor Swift and Beyoncé, announces a controlling investment from Providence Equity Partners.

GCL, a worldwide leader in live events logistics, has announced a strategic investment from Providence Equity Partners. The private equity firm has significant experience investing in and supporting companies in the entertainment and media sectors.

Providence will become the majority shareholder of CGL, and ATL Partners, the current majority owner, will retain a minority equity stake in the company. GCL will continue to be led by President and CEO Daniel Rosenthal, with global headquarters in New York. The transaction is still subject to customary closing conditions. The financial terms of the transaction were not disclosed, though The Wall Street Journal reports it was more than $1 billion.

Founded in 1978, GCL is the world’s premier logistical provider in its sectors, operating in service-sensitive live events and luxury goods markets. GCL completes more than 10,000 projects annually in over 160 countries and enables some of the world’s biggest live music tours—including Taylor Swift’s record-breaking Eras tour.

“GCL is a very special company supported by an incredible family of employees, customers, and partners across its global network. Providence’s commitment validates our customer focus and growth strategy and will expand our capabilities further in the years ahead,” said Daniel Rosenthal, GCL President and CEO.

“The Providence team’s proven track record and depth of relationships in our end markets make them the ideal partner for the next chapter of serving our customers. I’m also extremely grateful to the team at ATL Partners for their deep passion to propel our growth strategy. Under ATL’s active stewardship during the last seven years, GCL has successfully expanded into several adjacent verticals and is the clear market leader in live events and luxury goods logistics.”

“For nearly 50 years, GCL has earned the trust of the world’s biggest names in the live events sector and established a leading position in all of the end markets it serves,” said Scott Marimow, Managing Director at Providence. “We have a deep appreciation for and understanding of the business, especially given our long history of investing in entertainment and sports. We look forward to partnering with Dan and the entire GCL team to help capitalize on organic and inorganic growth opportunities ahead.”

Providence has nearly three decades of experience investing in and creating value at a wide range of companies in the live event space. These include Ambassador Theatre Group, Major League Soccer, Sweetwater, Yankees Entertainment and Sports Network, and World Triathlon Corporation.

“Since ATL invested in GCL in 2018, GCL has transformed itself into a premier business focused on the high growth live event and luxury goods markets,” added Sanjay Arora, a Partner at ATL Partners. “Dan and his management team have positioned the company well for its next phase of growth by expanding into new verticals, adding operational capabilities, and executing strategic acquisitions. We look forward to supporting the next step in GCL’s journey alongside Providence and the GCL management team.”

Jefferies LLC, J.P. Morgan, Securities LLC, and Moelis & Company LLC served as financial advisors, while Gibson, Dunn & Crutcher LLP served as legal advisor to GCL. Harris Williams served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Providence.

A live performance from SM Entertainment act Aespa. Photo Credit: Plumflower Snow

Hybe has officially moved to sell its remaining SM Entertainment stake – encompassing almost 10% of the rival K-pop agency – to Tencent for north of $175 million.

The Big Hit parent disclosed the sizable selloff in a regulatory filing, which regional outlets promptly covered. According to the document, Hybe intends to exit its SM position altogether, exchanging 2.21 million remaining shares for a cool ₩243.35 billion (currently $176.85 million).

Per Google’s translation of the same text, the trade will take place after the market closes this coming Friday, May 30th. While Hybe doesn’t appear to have identified the precise reasons behind the selloff – its second such divestment in a year – the writing has been on the wall for some time.

To be sure, the Belift Lab owner only secured an interest in SM as part of an ugly takeover battle. Kakao, itself partially owned by Tencent, ultimately emerged victorious in that much-publicized showdown.

Post-takeover confrontation, there doesn’t seem to be a compelling reason for Hybe to possess a piece of SM. Notably, the forthcoming stock sale will bring a per-share price of $79.94/₩110,000, up from $65.40/₩90,000 or so when Hybe shaved about 3% of its SM position in May 2024.

(Earlier in 2024, however, Hybe had purchased close to 900,000 different SM shares from founder Lee Soo Man.)

On the opposite side of the transaction, Tencent Music’s latest earnings report emphasized the company’s growing number of tie-ups and artist-specific initiatives in K-pop. Among those initiatives are Babymonster’s “debut pop-up store in mainland China” and Aespa’s “first-ever exhibition” in China, to name a couple.

Against this backdrop – and bearing in mind the relevant talent’s global appeal – it’s not a bad idea for Tencent proper to pick up an SM interest. And the investment may well be indicative of the Universal Music stakeholder’s music-space strategy moving forward.

(Plus, maintaining a positive professional relationship with Tencent won’t hurt Hybe, which is continuing to push into gaming. As something of an aside, it’s worth noting that Hybe chairman Bang Si-hyuk’s cousin Bang Jun-hyuk is the founder of South Korean mobile-gaming giant Netmarble, about 18% of which belongs to Tencent.)

When trading wrapped today, SM Entertainment stock (KOSDAQ: 041510) was down 2.1% at $94.40/₩129,900 per share; the price still represents a nearly 82% boost from 2025’s beginning. Hybe stock (KRX: 352820), in part due to the expansion-minded business’s strong Q1 financials, is also up big on the year.

An Eras Tour performance from Taylor Swift, whose original catalog might be changing hands once again. Photo Credit: Paolo V

Shamrock Capital is actively looking to offload Taylor Swift’s original masters – at least according to one new report, which is attaching an astonishing price tag to the possible deal.

Page Six’s Jeanette Settembre provided an overview of the rumored catalog divestment, though at the time of this writing, Shamrock didn’t seem to have commented publicly on the matter. Nor had the billionaire Swift, to whom the investment firm is reportedly being encouraged to sell the IP, weighed in.

However, judging by the mentioned piece’s framing and pricing details, it isn’t too difficult to guess which parties are forwarding related information to the media. As laid out by the report, none other than Scooter Braun is encouraging Shamrock (in which RidgeLake and Bonaccord took a stake in 2022) to sell the masters to Swift.

That refers to the recordings behind Swift’s first six albums, which, as described by the report, would carry a “price tag…in the ballpark of $600 million to $1 billion.”

Even the low end here, many will recognize at once, is substantially more than the $300 million or so that Shamrock reportedly paid Braun and Carlyle Group for the recordings back in November 2020.

Runaway inflation and sustained career success or not, it’s unclear whether the massive return is a realistic objective or a means of setting the negotiating tone, particularly given Swift’s “Taylor’s Version” re-recordings of the same works.

Not only are those re-recordings doing huge numbers on streaming, but thanks to Swift’s reach and professional connections, they’re the renditions making their way into programs like The Handmaid’s Tale, trailers, high-profile ad campaigns, and more.

(Per reports, Universal Music didn’t hesitate to modify its artist agreements to avoid re-recording fiascos down the line.)

On the ownership front, the competing catalogs tie back to a collection of complications that don’t exactly scream “billion-dollar deal” – especially since Swift herself is presumably far from eager to cough up the high-end sum for the recordings.

(Shifting the focus to the opposite side of the potential transaction once more, the commercial possibilities associated with authorizing AI training on the original masters is worth considering as well.)

Price-tag questions aside, it seems plausible that Shamrock, mainly for the above-outlined reasons but also in light of its increasingly varied song-rights holdings, may be receptive to selling. And as Swift certainly isn’t hard up for cash, it’ll be interesting to see whether she’s open to a deal and, assuming so, whether the parties can hammer out mutually satisfactory terms.

Jony Ive, who’s sold a company called io to OpenAI at a reportedly $6.5 billion valuation. Photo Credit: Marcus Dawes

Welcome to the hardware world, OpenAI: The artificial intelligence giant has acquired a startup, reportedly valued at $6.5 billion, founded by Apple vet Jony Ive. But is the play indicative of an AI bubble?

Ive and OpenAI head Sam Altman announced the agreement in a brief release as well as a 10-minute video. Described by some as one of the iPhone’s main designers, Ive (and his LoveFrom “creative collective”) “quietly began collaborating” with OpenAI and Altman two years back, the parties indicated.

As those involved tell the story, the talks set the stage for Ive to launch a hardware-focused venture called io last year. (Not directly mentioned is the 23% io interest OpenAI promptly scooped up, with today’s deal covering the remaining stake, per the Wall Street Journal.)

“It became clear that our ambitions to develop, engineer and manufacture a new family of products demanded an entirely new company,” Altman and Ive explained of io’s conception.

Now, Ive and his approximately 55-person io staff will come aboard OpenAI, with the mentioned LoveFrom taking a stake in the ChatGPT developer but remaining independent, per the Journal.

The same outlet and OpenAI itself didn’t shed too much light on what’s in the cards for io post-purchase; the Journal, citing anonymous sources, only noted that Ive will have a hand in “all” OpenAI’s ventures, from ChatGPT to the app and more.

But that probably doesn’t need saying given the astonishing $6.5 billion io valuation floating around. Also implied are the decidedly high expectations associated with OpenAI’s forthcoming hardware, which could include headphones and cameras.

While far from impartial, the above-noted video saw Altman disclose that he’d already tested one of the upcoming physical products. Part of a “family” of hardware, this device represents “the coolest piece of technology that the world will have ever seen,” he touted.

In any event, the purchase announcement underscores the ample capital floating around the AI sector – and raises questions about the initially mentioned possibility of a bubble. For better or worse, the rapidly evolving technology appears here to stay.

As is often the case, however, two things can simultaneously be true; AI’s quick-improving features and long-term relevance don’t mean there isn’t a bubble in the space.

Though time will tell how the well-financed episode plays out, OpenAI’s gargantuan valuation, Perplexity’s $14 billion value, the $5 billion at which legal-focused Harvey AI may raise capital, and a whole lot else are certainly worth keeping in mind.

U2 bassist Adam Clayton, who has an interest in the just-sold ROXi music video service. Photo Credit: U2start

Self-described “music video streaming service” ROXi has officially sold in a “management buyout,” with multiple broadcasters and U2 bassist Adam Clayton among its stakeholders

Reps for London-based ROXi reached out with word of the deal, executed via a new company called FastStream Interactive. All told, ROXi/FastStream says it’s drawn support from north of 100 “major” backers thus far.

Those parties include but certainly aren’t limited to Simon Cowell, Robbie Williams, Kylie Minogue, Sheryl Crow, and Alesha Dixon, who all boarded the ROXi train a while ago. At the time, the business was still zeroing in chiefly on providing access to music videos and especially karaoke via smart TVs.

Since then, ROXi, currently counting broadcasters Sinclair (an existing partner) and Gray Media as stakeholders, has adjusted its focus to prioritize “interactive TV channels.”

And it’s these channels that FastStream Interactive head Rob Lewis emphasized when addressing the buyout of ROXi, which was at one point considering an IPO.

“The new technology, FastStream, will revolutionise Broadcast TV,” indicated Lewis. “For the first time in history, consumers tuning into a normal TV channel will find they automatically start at the beginning of the program, and that they are able to skip, pause or search, even though they are watching normal Broadcast TV.”

Running with the idea, FastStream took the opportunity to confirm its forthcoming release of “America’s first Interactive TV Music channel,” referring to ROXi. This free offering is said to be teed up to debut via “new digital TV standard” NextGen TV – which Sinclair CEO Chris Ripley has been touting for some time – with no app or registration required.

NextGen, for its part, describes itself as “the biggest leap forward in TV in years” and claims to combine “the benefits of broadcast with broadband TV viewing.”

With an antenna required for access, NextGen before 2028 will be supported by 75% of U.S. TVs sold, FastStream estimated.

“FastStream Interactive will empower Sinclair to deliver a range of cutting edge, fully interactive TV channels,” summed up Sinclair VP and GM of technology business development Skip Flenniken. “Our viewers across the U.S. will be able to search, skip, and engage with content in a seamless, personalised experience.”

Besides the initially mentioned U2 member as well as Gray and Sinclair, other ROXi/FastStream stakeholders include Terra Firma Capital Management founder Guy Hands, businessman Jim Mellon, and longtime Rothschild partner Warner Mandel.

(l to r) Cherry Red Records MD Adam Velasco; Korda Marshall (a consultant on today’s deal); Cherry Red founder and chairman Iain McNay; Dome Records founder Peter Robinson; Dome GM Santosh Robinson; and Cherry Red director Matt Bristow. Photo Credit: Cherry Red

Cherry Red Records has acquired Dome Records, with plans in place to “diligently” oversee the soul and R&B label’s catalog while continuing to release new material from signed acts.

47-year-old Cherry Red formally disclosed the buyout today. Founded in 1992 by Peter Robinson, Dome is said to have put out projects from talent including Lulu, Beverley Knight (whose “Mutual Feeling” was sampled by Playboi Carti earlier in 2025), Incognito, Hil St Soul, and the James Taylor Quartet, to name a few.

Additionally, the likes of Drizabone Soul Family, Jarrod Lawson, and Shaun Escoffery have dropped new works via Dome as of late. Cherry Red itself is “concentrating more on” catalog at present, but it’s still releasing fresh recordings and, as initially highlighted, plans to unveil “some new albums” from Dome acts moving forward.

“In recent years we have focused less on releasing new recordings (although we will still put out around 20 new albums this year) and concentrating more on catalogue,” Cherry Red founder and chairman Iain McNay elaborated in part.

“We are very excited to be acquiring Dome from Peter and Santosh and will look after their catalogue diligently as well as releasing some new albums by their artists. Dome will live on within Cherry Red!” the AFCW PLC director proceeded.

On the other side of the transaction, aforementioned Dome founder Peter Robinson is expected to “continue working with the label as a consultant” once the deal wraps.

“After 55 years in the industry and more than three decades running Dome together with Santosh,” added Robinson, “it’s time to hand over the reins to a new custodian, and I’m very confident that Iain McNay, Adam Velasco, Matt Bristow and the team that have helped to build Cherry Red into one of the UK’s most respected independent label groups will maintain the Dome legacy in the years ahead.”

Regarding Dome’s price tag, the involved parties rather unsurprisingly opted against diving into specifics as part of their announcement message. And Dome Records and Dome Publishing financials, though covering the 12 months ended March 31st, don’t appear to provide too much pertinent info on this front.

In any event, today’s deal marks the latest in a line of 2025 indie sales – with the main attraction seemingly being IP holdings even at labels still releasing new works. Just in passing, these transactions include plays for Monstercat, !K7, Mack Avenue, New State, ARC Musicq, Symphony Recording, and Musicraft Entertainment.

Global Talent Services head Narcís Rebollo and Rosa Lagarrigue, who’s now GTS’ global EVP. Photo Credit: Universal Music

Universal Music’s little-discussed Global Talent Services (GTS) Latin artist services agency has officially acquired Rosa Lagarrigue Management (RLM).

Global Talent formally disclosed the buyout today, seven months and change after setting sail “independent of UMG’s local music labels.” As part of the latter pivot, GTS became “a standalone company” and tapped longtime Universal Music Spain exec Narcís Rebollo to serve as president and CEO.

Evidently, the GTS expansion isn’t stopping there. Founded decades back by the namesake Rosa Lagarrigue, RLM is now expected to operate under the UMG/GTS banner, the involved parties indicated.

That refers specifically to the just-sold entity’s being “integrated” into GTS, per the announcement. Long term, it’s unclear exactly what this means on the personnel front; among other things, RLM also owns a label called Sin Anestesia.

More immediately, RLM has between 11 and 50 employees, its LinkedIn page shows, and the team members are poised to come aboard GTS. So is the mentioned Rosa Lagarrigue, whose company is active in Spain as well as Colombia and counts as clients Mia Lardner, Miguel Bosé, and more.

Per the relevant businesses, Lagarrigue is signing on as GTS’ global EVP. “I have always believed that every artist needs unique and personalized support; one that combines listening, intuition, strategy, and honest work,” she added in a statement.

“I’m excited to share this project with Narcís, undoubtedly one of the most brilliant executives in the industry, and with his team. What we started at RLM not only continues, but it is amplified and strengthened alongside them,” concluded Lagarrigue.

Meanwhile, Rebollo in remarks of his own touted the deal as a step towards affording signed “artists the best service and strategic support to achieve their goals across all markets.”

In the bigger picture, today’s purchase has arrived against the backdrop of strong Latin revenue growth. When it comes to the States, the RIAA placed the streaming-powered space’s 2024 recorded revenue at a record $1.4 billion or so.

And on-demand listening is still fueling double-digit increases in markets including but certainly not limited to Brazil and Mexico.

Unsurprisingly, then, Universal Music isn’t alone in looking to secure a bigger piece of the Latin music pie. Hybe Latin America last month unveiled a Mexico-focused music-competition program entitled Pase a La Fama, to name one example. The reality series is scheduled to premiere on Telemundo in early June.

Reservoir exec Spek, who oversees the operations of Musicraft Entertainment purchaser PopIndia. Photo Credit: Reservoir Media

One month after launching a Mumbai-based subsidiary called PopIndia, Reservoir Media (NASDAQ: RSVR) has officially closed its first catalog deal in India.

New York City-headquartered Reservoir today revealed the song-rights purchase, executed via PopIndia and covering the IP of 45-year-old Musicraft Entertainment. According to the involved parties, PopIndia scooped up the “entire” catalog at hand, including both “publishing and master rights.”

Founded in 1980, Musicraft by Reservoir’s description owns the rights to music with “production styles similar to Bollywood soundtracks while remaining independent of any specific film.”

Regarding genres and artists, the catalog is said to encompass popular Qawwali works and releases from the likes of Ashok Zakhmi, Gyasuddin Warsi, and Usman Taj, to name just a few. And per Musicraft itself, its catalog also features projects from regionally prominent comics such as Raju Srivastav, who passed away in 2022.

On the financials front, Reservoir opted against disclosing Musicraft’s sale price; the publicly traded buyer’s forthcoming earnings reports may provide insight here.

However, the purchaser did underscore the transaction’s comprehensive nature. Among other things, PopIndia will begin operating the Musicraft YouTube channel, which has racked up 3.3 million subs and nearly 900 million cumulative views.

The mononymous Spek, who leads PopArabia and is Reservoir’s EVP of international and emerging markets, is at the helm of PopIndia. In a statement, the exec touted the deal as “a major step forward” in the long run.

“This marks a major step forward for PopIndia — our first full catalog acquisition, covering over a thousand recordings that span decades of Indian music… Our strategy in India is focused on long-term value creation, and that starts with investing in catalogs that matter — culturally and commercially.

“We see a growing global appetite for Indian music, and this deal positions us well to meet that demand with credible, well-curated content,” proceeded Spek.

Reservoir certainly isn’t alone in looking to cash in on said global appetite. Primary Wave-partnered Times Music, Believe, Warner Music, and Universal Music alike are spearheading sizable music investments in the nation; Sony Music yesterday underscored plans to wrap “deliberate acquisitions” specifically in India.

As for the commercial upside of establishing a presence in India – referring to domestic revenue, that is – streaming adoption is strong but monetization remains a challenge. Some reports have suggested that it’ll be a while yet before paid listening catches on at scale.

Bearing the point in mind, Reservoir is billing PopIndia “as a full-service music company focused on signing and developing regional talent and acquiring catalogs.”

Additionally, the newly minted division is said to act as “sub-publisher for global music catalogs within the Indian and South Asian markets,” simultaneously offering “music supervision and rights management solutions for regional music.”

Concord has officially acquired Broadway Licensing Global (BLG). Photo Credit: Erik Mclean

Concord has officially acquired self-described “global leader in theatrical licensing and distribution” Broadway Licensing Global (BLG).

The acquisition-minded Concord reached out with word of its latest purchase, the assets from which will become part of the seven-year-old Concord Theatricals unit. Most notably, this division will house BLG imprint Broadway Licensing, which licenses A Night with Janis Joplin and The Cher Show, to name a couple.

Likewise set to operate under the Concord Theatricals banner are Broadway Licensing Global subsidiaries Dramatists Play Service, Playscripts, and Stage Rights (A Cappella and Country Is: The Music of Main Street in Concert), the buyer indicated.

“At this time,” Concord elaborated on LinkedIn, “the customer experience remains unchanged. Customers should continue to work with their respective licensing houses.”

Though Nashville-based Concord (which recently touted the many 2025 Tony Award nominees in its catalog) didn’t dive into price-tag particulars, it did emphasize that the transaction excludes BLG’s Stageworks and Broadway On Demand.

The former imprint houses an “internal content development division” as well, while five-year-old Broadway On Demand, as its name suggests, brings the stage to the screen.

Concord (advised in the transaction by Reed Smith, Davis Wright Tremaine, and KPMG alike, with Barron International Group acting as the “exclusive financial advisor”) also took the opportunity to reiterate its theatrical presence.

Concord Theatricals is said to be “the only firm providing truly comprehensive services to creators and producers of plays and musicals,” referring to licensing, publishing, cast recording, and more.

Meanwhile, the involved parties opted to rattle off some of the many authors and rightsholders behind Broadway Licensing Global, advised here by Goldman and Proskauer Rose. Keeping the enthusiasm going in statements, execs drove home the deal’s perceived significance for Concord and the wider theater space.

(Side note on the executive front: Broadway Licensing founder and CEO Sean Cercone stepped away in March 2024, promptly launched a new company called Dramallama, and is apparently working on a play entitled “Sold Out.” “It’s about ambition, ego, power, and what happens when the spotlight turns off,” Cercone wrote on LinkedIn just this morning.)

“Concord’s mission is to champion authors by promoting and protecting their work and empowering theatre makers to help their shows reach audiences worldwide,” added Concord chief theatricals executive Sean Patrick Flahaven.

“Bringing together these catalogs combines 150 titles and 400 authors that are already shared between the companies, as well as creating new relationships,” the close to seven-year Concord exec proceeded in part.

Photo Credit: DLXMedia.hu

RØDE parent The Freedman Group has announced the acquisition of Lectrosonics, a U.S. based pioneer in high-end wireless audio systems.

Founded in 1971, Lectrosonics’ UHF wireless systems are used in film, broadcast, and theater applications. The company’s Digital Hybrid Wireless technology earned an Academy Award for Scientific and Technical Achievement in 2017. This move marks a significant expansion of Freedman Group’s global footprint and manufacturing capabilities, especially in the United States.

The acquisition of Lectrosonics is a major milestone for the Australian Freedman Group. The company has grown from its origins as a family business in Sydney to become a global leader in audio technology. With Lectrosonics under its umbrella, The Freedman Group gains access to the company’s portfolio of wireless audio solutions while establishing a robust manufacturing hub in the United States. The move will enhance the group’s ability to serve the North & South American markets while responding more rapidly to the needs of their professional audio customers.

“They are without doubt the world’s leader in wireless communications for entertainment and broadcast markets,” says Peter Freedman AM, Founder & Chairman of The Freedman Group. “Being able to now offer our customers the finest sounding wireless technology in the world is, without exaggeration, something that is very special to me.”

Speaking with Forbes Australia, Freedman reveals that a major driver behind the acquisition was establishing a U.S. manufacturing hub. That hub will serve Lectrosonics, RØDE, and Mackie products for the North and South American markets. Final assembly of RØDE gear will shift to New Mexico within 90 days—overcoming tariff hurdles.

“It’s a double whammy,” Freedman said of the acquisition. “We end up with a company that’s been at the highest end in that area since the 1970s, but the best part is that it allows us now to have immediate U.S. manufacturing for everything we want.”

With the Lectrosonics acquisition finalized, Freedman says the group will pause further acquisitions to focus on integration. However, Freedman did hint that he would love to see the company listed on the Australian Securities Exchange (ASX) within the next few years, estimating the group’s value at around $2 billion.

A pair of headphones from Bowers & Wilkins, one of the Sound United brands that’s set to become part of Samsung’s Harman International thanks to a newly announced acqusition agreement. Photo Credit: Evgeniy Bezkorovayniy

A little over three years after acquiring Sound United, medical tech company Masimo Corporation is offloading its consumer audio unit in a $350 million deal with Samsung’s Harman International.

Irvine-headquartered Masimo, having previously kicked off a strategic review of some non-core operations, confirmed the divestment in a brief release. As mentioned, the 36-year-old business only wrapped its Sound United buyout in April 2022.

(Between then and the review’s start, a multiyear proxy battle culminated with the September 2024 exit of Masimo founder and CEO Joe Kiani, according to medical device trades. Katie Szyman came aboard as CEO this past February.)

Still based in Carlsbad, Sound United markets wearables, speakers, and a variety of different audio products via brands like Bowers & Wilkins, Polk Audio, and (at least in name) Boston Acoustics, to name a few.

Now, these and others are set to begin operating under the Samsung banner. Today’s deal includes a $350 million cash payment “subject to certain adjustments” and, pending regulatory approval, is expected to wrap sometime before 2025’s conclusion.

In more words, Masimo execs described the transaction as a step towards prioritizing across-the-board efficiency and an enhanced focus on the medical side. Meanwhile, Dave Rogers, president of Harman’s lifestyle division, said the purchase “opens new avenues for growth.”

“Sound United’s portfolio of world-class audio brands including Bowers & Wilkins, Denon and Marantz, will join HARMAN’s iconic family of brands, including JBL, Harman Kardon, AKG, Mark Levinson, Arcam, and Revel,” proceeded the 15-year Harman higher-up Rogers.

“Built on a shared legacy of innovation and excellence in audio technology, this combined family of brands, together with the talented employees of both companies, will deliver complementary audio products, strengthen our value proposition and offer more choices to consumers,” he concluded.

For the FLUX Software Engineering and Roon parent Harman, the high-profile acquisition marks the latest in a line of expansion initiatives.

2024 saw the business open an audio engineering lab in Denmark (“the first and only one of its kind in Europe”) and (eyeing a continued automotive buildout) debut a manufacturing facility in Thailand. Earlier in 2025, Google and Samsung proper touted their newly developed Eclipsa Audio technology.

According to Samsung’s Q1 2025 earnings report, Harman generated ₩3.4 trillion (up 7% YoY and currently $2.4 billion) from sales on the quarter, with a slightly improved operating profit of $215 million/₩300 billion or so.

Photo Credit: Kadyn Pierce

Create Music Group has acquired Canadian independent label Monstercat—tacking on yet another indie label to its portfolio. The move closely follows the acquisition of !K7 and Deadmau5’s catalog.

Monstercat has staff based in Vancouver, Toronto, and Los Angeles and has a reputation as an artist-first brand. Since launching, the brand expanded to encompass three labels including Uncaged, Instinct, and Silk. Artists who have released with Monstercat in the past include Kaskade, Koven, DJ Diesel, Alan Walker, Vicetone, ATTLAS, Shingo Nakamura, WHIPPED CREAM, Virtual Riot, and OCULA.

While Monstercat is now under the Create Music Group umbrella, it will continue independent operations under President Daniel Turcotte, Vice President Orri Sachar, and Director of Finance Rob Hill. The brand’s founders Mike Darlington and Ari Paunonen will remain involved in advisory roles. Create Music says it plans to invest another $50 million in artist development, advances, and platform support over the next two years.

“Our mission has always been to build sustainable, long-term careers for exceptional artists,” shares Daniel Turcotte, President of Monstercat. “Create gives us the reach and support to do that at a larger scale, without changing what makes Monstercat special. We’re still artist-first—only now with more tools to serve them.”

“Monstercat is everything an independent label should strive to be—exclusive, globally trusted, and capable of breaking artists and songs at the highest levels. Mike, Ari, Daniel, Orri, and the entire Monstercat team have built a culture and community at a scale rarely achieved in the music industry,” adds Jonathan Strauss, Co-Founder & CEO of Create Music Group. “We are excited to support their mission.”

Aside from EDM releases, Monstercat is also bringing its expertise in video game brands including Rocket League, Beat Saber, Fortnite, and Roblox. Create Music Group will also expand Monstercat Gold, the label’s subscription-based sync licensing service for content creators on YouTube and Twitch.

Connoisseur Media has announced a ‘definitive agreement’ to acquire Alpha Media. Photo Credit: Connoisseur

Looks like Connoisseur Media’s radio reach is about to get a lot bigger, as the company’s announced the acquisition of Alpha Media.

Westport-headquartered Connoisseur unveiled its “definitive agreement” for Portland-based Alpha Media today. Subject to FCC approval but expected to wrap during 2025’s second half, the deal will bring 218 radio stations, operating in 47 markets, under the same banner, the parties emphasized.

The lion’s share of those stations will come from the self-described “leader in the local advertising space” Alpha; as things stand, Connoisseur says it operates 11 stations. Meanwhile, the companies are also banking on bolstered “digital capabilities” with the integration of Alpha Digital into Connoisseur’s Ferocious Digital.

Shifting to the organizational side, Connoisseur opted against diving into personnel particulars in the announcement, and time will tell whether the purchase brings layoffs.

However, the business did spell out that it intends to operate as Connoisseur post-buyout, with CEO Jeff Warshaw remaining at the helm. Longtime Alpha Media head Bob Proffitt didn’t provide a statement for Connoisseur’s release and hadn’t addressed the transaction on LinkedIn at the time of writing.

But in his own remarks, Warshaw made clear an objective of turning the united operations into “an industry-leading platform of broadcast and digital.”

“This transaction underscores our commitment to the irreplaceable role local broadcasters play in providing news, information and entertainment that truly resonates,” Warshaw said in part. “Together, we will build an industry-leading platform of broadcast and digital. I could not be more excited to get started.”

Also absent from the formal announcement are price-tag details. Nevertheless, Connoisseur did acknowledge that “[f]inancing for the transaction is being provided by Brigade Capital Management.”

This means Brigade’s been involved with at least two high-profile radio deals on the year. Earlier in 2025, the Family Dollar buyer (and would-be Macy’s purchaser) disclosed an investment, referring here to senior notes financing, in a Beasley Broadcast subsidiary. Beasley proper (NASDAQ: BBGI) owns and operates 69 stateside radio stations, according to its LinkedIn profile.

Bigger picture, it’s been about seven months since Audacy, said to be the States’ second-largest radio company, officially emerged from bankruptcy under controlling stakeholder Soros Fund Management. (March 2025 then brought a far-reaching round of layoffs at Audacy.)

Once the Alpha acquisition wraps, Connoisseur says the combined entity “will rank among the top 10 radio groups both by station count and by revenue.”

(l to r) Influence senior partner Rene McLean, co-managing partner Lynn Hazan, founder Lylette Pizarro, and DJ Khaled. Photo Credit: Influence Media Partners

Three months after securing $360 million in debt financing, Influence Media Partners has taken a stake in DJ Khaled’s song rights and launched a pair of JVs with the New Orleans native.

New York City-headquartered Influence Media opted to emphasize the joint ventures – and its “unconventional” efforts “to increase future brand value for artists through multifaceted partnerships” – in the formal announcement.

Starting there, then, the first of the JVs will see Influence Media and DJ Khaled coordinate on “original content across film and television,” besides taking steps to “secure legacy-defining commercial ventures.”

Though the involved parties didn’t get into specifics here, Influence did indicate that “several film projects” are “currently in various stages of development” thanks to the tie-up. (DJ Khaled elaborated on his silver-screen ambitions in a Forbes interview.)

Additionally, the company – which had and presumably still has a hand in Will Smith’s comeback – relayed that the focus is also on “brand partnerships and content deals” in this area.

Hard details are sparser yet when it comes to other elements of the union, under which Influence will look to “expand commercial opportunities” via NIL “rights in certain exclusive categories.” Despite the lack of concrete information, logic suggests further announcements will shed light on the NIL dealmaking’s scope before long.

On the core song-rights front, BlackRock- and Warner Music-backed Influence invested on the recorded and publishing sides alike, a rep confirmed to DMN.

“I’m proud that my legacy will continue to resonate and connect with audiences around the world with this partnership through Influence Media,” 49-year-old DJ Khaled added. “These iconic recordings I’ve created will continue to be curated in the most optimum manner to impact culture with nearly two decades of music.

“In addition, I’m excited for the world to see and experience the film and television projects Influence and We The Best are developing and producing together. This next phase of my career will be filled with ground-breaking cultural impact, and I look forward to being at the forefront in all categories,” concluded Khaled, who’s set to release an album entitled Aalam of God later in 2025.

Anonymous and purportedly well-informed sources have pointed to a nine-figure valuation for the deal, which, whatever its total value, marks the latest in a line of sizable music-IP plays on the year.

Notwithstanding market factors and the sheer volume of already-wrapped catalog purchases, these transactions (all compiled by DMN Pro) extend to the work of Notorious B.I.G., Morgan Wallen, and Deadmau5, with massive raises from GoldState, Pophouse, and more to boot.

Photo Credit: Morgan Wallen by Andrew Wendowski / CC by 4.0

Nashville record label Big Loud has sold a minority stake in Morgan Wallen’s catalog to Chord Music Partners for $200 million.

A representative for Big Loud, the Nashville label that’s home to country star Morgan Wallen, confirmed the sale of a minority stake in the singer’s catalog to Chord Music Partners. Chord made the purchase for $200 million, sources close to the matter said.

“Big Loud has sold a minority stake in Morgan Wallen’s master recording catalog to Chord Music Partners, as part of a strategic investment to expand the label’s global footprint and fuel long-term artist development,” the rep told THR. “The deal was executed with the support of the internal Big Loud team, alongside partners at Chord Music, Republic Records & UMG, PLUS Capital, Eisner, Loeb & Loeb, DLA Piper, Dickinson Wright and Armanino.”

Chord Music was founded in 2021, a collaboration between investment companies KKR and Dundee Partners. Its portfolio includes songs from John Legend, Ryan Tedder, and The Weeknd, among others. Universal Music Group bought a 25.8% stake in Chord last year as KKR stepped down.

Big Loud has fast become one of Nashville’s major record labels since its founding in 2013. Its roster boasts Wallen, Hardy, Ernest, and Miranda Lambert, among others. Even Wallen alone offers lucrative multiples that will earn out steadily over the next decade or so, according to sources close to the strategic investment.

Having forged a strong relationship with UMG’s Republic Records, Big Loud signed a multi-year distribution agreement with Republic’s Mercury Records last year. The deal with Chord—in which UMG already holds an equity stake—further strengthens Big Loud’s foothold in the sector and in Universal’s own ecosystem as the world’s largest music company.

Morgan Wallen is gearing up for his I’m The Problem stadium tour, which kicks off in Houston on June 20.

Photo Credit: Song Sleuth

Epidemic Sound acquires music recognition tech company Song Sleuth, a company focused on music monetization in user generated content.

Epidemic Sound has announced the acquisition of Song Sleuth, a music recognition technology company specializing in identifying and monetizing music used in user-generated content (UGC). The deal marks the launch of Aentidote, a new service under the Epidemic Sound Group, designed to help platforms pay out more accurately to artists and rights holders globally for the use of their music across online platforms.

This also marks Epidemic Sound’s third major acquisition in as many years, after AP Records (now Overtone Studios) in 2022, and Soundly in 2023.

Aentidote taps Song Sleuth’s AI technology to identify music usage that traditional detection systems struggle to find—including remixes, covers, and live recordings. Claiming a reported identification success rate of up to 95%, Aentidote is positioning itself as a leading UGC music usage tracking and monetization service.

“The complexity of music use across a plethora of digital platforms both officially distributed and user-generated requires a different approach,” said Jordan Gross, CEO of Song Sleuth. “By joining forces with Epidemic Sound, we’re scaling our vision to offer unprecedented clarity and control across the entire music ecosystem, providing platforms with ever more accurate identification systems, while giving artists, labels, and publishers confidence that their work is being both found and rewarded.”

With creation and consumption of UGC expected to surge (Goldman Sachs predicts the total addressable market of the creator economy will approach half-a-trillion dollars by 2027), let’s see if rights holders, the industry, and artists can capture the full value of their work.

Splice has acquired Spitfire Audio in a reportedly $50 million deal. Photo Credit: Spitfire

Splice has acquired Spitfire Audio for a reported $50 million, and with AI front of mind for the businesses, new features are teed up to release later in 2025.

New York City-headquartered Splice and London-based Spitfire announced the deal in a brief release and a video this morning. Those official resources opted against disclosing the sale’s price tag; the $50 million estimate comes from the Financial Times and, just in general, should be taken with a grain or two of salt.

That said, the self-described “leading creator of sounds and sample libraries” Spitfire and the “leading music creation platform” Splice did shed light on a few interesting details.

First, in the mentioned video, Spitfire co-founder Paul Thomson (who’s set to remain aboard) and Splice CEO Kakul Srivastava touched on the above-highlighted plans for fresh features.

“[Splice clients] want more creative control,” Srivastava weighed in here, “and they want Splice and the sounds that we have deeper into their workflow. … When I think about Spitfire – tools that you’ve built, the user experience, the creative control that you’ve given users. Making that accessible to the Splice community, I think, is going to be really powerful.

“I can’t talk about all of it,” the former Adobe and GitHub exec proceeded of the upcoming features. “But I think in the next six to nine months, probably, we’re gonna see some really cool new stuff coming out.”

Running with the point, the two then jumped right into the heart of the matter: AI in the music world and well-founded concerns about the unprecedented technology. Judging by the video’s comments, the higher-ups’ remarks (including the often-heard belief that AI can complement the musicmaking process) don’t look to have assuaged these creator concerns.

In any event, new artificial intelligence products and tools are on the way from the well-funded Splice (which already offers Splice Mic and several other AI products) and Spitfire (which debuted a LABS+ subscription option last year), the execs spelled out.

“We have been building new AI components that are ethical, artist-first, where artists are fairly compensated for their work,” added Srivastava. “So bringing some of that technology together, I think, will be really, really important.”

“This partnership marks a new era,” Spitfire drove home in an FAQ about the sale. “Together, Spitfire Audio and Splice will create the most complete and forward-thinking toolkit for modern music makers—whether you’re discovering a loop, crafting a score, or pushing boundaries with ethical AI-assisted tools.”

Lastly, on the personnel and organizational front, Spitfire “will continue to operate under its own name, brand, and distinct product experience,” per the same FAQ section. And in a LinkedIn post, CEO Olivier Robert-Murphy said he’ll keep on “running Spitfire Audio with the same mission at heart.”

Tencent Music is reportedly in talks to purchase podcast platform Ximalaya. Photo Credit: Austin Distel

Tencent Music (NYSE: TME) is reportedly in “advanced” talks to purchase Chinese podcast platform Ximalaya in a multibillion-dollar deal.

Word of the possible buyout entered the media spotlight in a detail-light report from Bloomberg. As described by the outlet, which cited anonymous and purportedly well-informed sources, the acquisition could bring with it a $2.4 billion price tag.

According to the same source, Tencent Music would put up a combination of cash and stock under the transaction, which could wrap in “the coming weeks.” At the time of writing, neither Tencent Music nor Ximalaya looked to have commented publicly on the matter.

But from a strategic perspective – and despite the gigantic price tag – the play would seemingly make sense for Tencent Music. The profitability-minded business is continuing to focus aggressively on adding subscribers, and a bolstered podcast offering would presumably prove useful on this front.

Furthermore, it’s now been four years and change since the company dropped a reported $415 million on Lazy Audio, which specializes in podcasts and audiobooks. Regarding audience size, various reports have identified strong podcast-listenership growth in China – though the numbers behind the trend appear to be all over the place.

Bigger picture, the maneuver may then help Tencent Music (which operates QQ, Kugou, and Kuwo) to expand its lead over domestic rivals including NetEase Cloud Music.

Scheduled to post its Q1 2025 earnings in mid-May, Tencent Music closed out 2024 by reporting north of 120 million paid users. And for last year’s final quarter, the company disclosed an 18% YoY spike in subscription revenue.

Moreover, Tencent Music shares, worth $13.36 apiece when trading concluded today, have seen their value climb by about 18% since 2025’s beginning.

Separately, should a Ximalaya deal actually come to fruition, Sony Music Entertainment might be poised to secure a nice piece of the $2.4 billion in question.

Per regulatory filings, Ximalaya issued 4.61 million shares to the major label for a cool $50 million back in September 2020. Incidentally, reports have further pointed to a sizable Tencent Music holding for Sony Music, which also took a $100 million stake in Cloud Music when it IPO’d in 2021.

The European Commission is now reviewing the proposed Universal Music Group buyout of Downtown Music Holdings. Photo Credit: Guillaume Périgois

Following ample competition-related criticism and a couple investigation referrals, the European Commission has moved “to examine” Universal Music Group’s proposed Downtown buyout.

The EU executive arm just recently made the inquiry official, weeks after receiving the mentioned referrals from competition watchdogs in the Netherlands and Austria.

As we noted at the time, these regulatory concerns didn’t necessarily mean that a full-fledged investigation was in the cards. However, they did arrive on the heels of considerable pushback from organizations including IMPALA, a vocal critic of “UMG’s juggernaut strategy.”

Evidently, the indie sector’s opposition and the referrals were enough to spur action from the Commission, which believes the $775 million buyout “threatens to significantly affect competition” in the music world.

“In particular,” the European Commission wrote, “the transaction threatens to significantly affect competition in certain markets of the music value chain, where both companies are active, in Austria and in the Netherlands, as well as in many other Member States.

“The Commission has therefore concluded that it is best placed to examine the transaction,” the EC proceeded. “The Commission has asked UMG to notify the transaction. UMG cannot implement the transaction before notifying and obtaining clearance from the Commission.”

It probably doesn’t need saying, but especially in light of the EU’s aggressive regulatory approach, it’ll be interesting to see how the investigation plays out. Per the Commission, updates will be posted to its register (case number M.11956 here) moving forward.

More immediately, Universal Music in a statement said it remains confident that the Downtown purchase (which the major initially announced in mid-December 2024) will wrap “in the second half of the year, on its original timeline.”

IMPALA and its members, on the other hand, applauded the development and doubled down on a push for a separate investigation across the pond.

“The news about the EU shows the way for other jurisdictions to intervene,” AIM CEO Gee Davy reiterated in part. “We call on the UK to follow, given the importance of the music market to the UK economy.”

Meanwhile, with the Commission’s investigation now in motion, IMPALA executive chair Helen Smith took things a step further by calling for the UMG-Downtown deal to be “blocked entirely.”

“Like any sector,” Smith relayed in part, “the music market needs big companies of course, as we already flagged, there is simply a point at which big is too big. In this case, UMG clearly exceeded the maximum even before adding Downtown. This deal must be blocked entirely.”

Etsy has inked a Reverb sale agreement with Creator Partners and Servco. Photo Credit: Oberon Copeland

Almost six years after acquiring Reverb, Etsy (NASDAQ: ETSY) is selling the instruments marketplace to Fender investors Creator Partners and Servco Pacific.

Reverb reached out with a formal announcement about its sale – and its return to private ownership – this morning. Meanwhile, Etsy confirmed the divestment in a regulatory disclosure, chalking up the move to a “focus on driving growth in the core Etsy marketplace.”

The seller, which previously acknowledged “significant GMS [gross merchandise sales] headwinds in 2024,” also noted that it would provide additional information in its Q1 2025 earnings report. Having reportedly paid $275 million for Reverb, Etsy is scheduled to release the first-quarter performance breakdown on the 30th.

Shifting to Reverb’s buyers, the mentioned Creator Partners was founded in 2022 by former SoundCloud head Kerry Trainor, a longtime Fender board member who, in keeping with another of his company’s investments, joined BMI’s own board towards the top of 2024.

Fellow SoundCloud vets including Jaydan Heather Malsky are also aboard as Creator Partner execs.

The more than century-old Servco, for its part, touts itself as “Hawaii’s largest private company,” with operations in the automotive sector as well as venture capital. On the VC front, Servco possesses an ownership stake in Fender, which is said to represent its “largest investment to date.”

Notwithstanding the buyers’ Fender holdings, Reverb went ahead and pledged not to provide preferential treatment to the instruments giant. Plus, the marketplace signaled that it would continue operating independently with its existing team in place; a straight merger into Creator Partners isn’t forthcoming, per Reverb.

Though the latter’s users “won’t notice any disruption as a result of this news,” significant updates are said to be on the horizon.

“We’ve got a lot of exciting changes in the works,” Reverb CEO David Mandelbrot elaborated in part. “We’re expanding access to music-making software on Reverb and we’re getting ready to pilot a new option for selling that allows musicians to get paid faster, while skipping the listing and shipping process.

“Our teams are working on improving our search functionality, making it easier to ship, and shortening the time it takes to resolve support issues,” the former Indiegogo CEO proceeded.

Those remarks appear to indicate that Mandelbrot will remain aboard Reverb, which he’s led since early 2020. And the marketplace, which declined to provide sale-price details to DMN, expects the transaction to close “in the coming months.”

Hayashi International Promotions head Kaori Hayashi, whose company has sold to Live Nation. Photo Credit: Live Nation

Live Nation’s aggressive international buildout has officially reached Japan, where the promoter has acquired Hayashi International Promotions (HIP).

The Ticketmaster parent announced its newest buyout in a brief release. Founded some four decades back and currently led by the namesake Kaori Hayashi, Hayashi International has, of course, organized concert series for a variety of Japanese acts.

Additionally, the Tokyo-headquartered business has promoted a number of shows in Japan for international talent. Global clients include the Red Hot Chili Peppers, Taylor Swift, Bruno Mars, Fall Out Boy, and Linkin Park, the appropriate website shows.

Now, at least as Live Nation sees things, today’s deal “will enhance Japan’s live music landscape” both by attracting “global superstars” to the nation and by “elevating J-pop on the international stage.”

While the involved parties opted against divulging the transaction’s financials, they did indicate that Kaori Hayashi will remain at the helm moving forward. In a statement, Live Nation head Michael Rapino touted the purchase as a means of bringing “even more live music to fans across Japan.”

And in remarks of her own, Kaori Hayashi emphasized the sale’s perceived ability to help Hayashi International Promotions operate on a “greater scale.”

“HIP has been at the heart of Japan’s live music scene for over 40 years,” the exec communicated, “and our focus has always been on delivering incredible concerts for fans.

“Partnering with Live Nation allows us to keep doing this with greater scale, giving Japanese artists the opportunity to perform to new audiences and strengthening Japan’s position as a must-visit destination for major acts,” Kaori Hayashi concluded.

For Live Nation, the play is just the newest in a line of international expansions to arrive as the company grapples with a fresh round of stateside antitrust scrutiny.

Furthermore, the promoter is also encountering regulatory hurdles in Europe, where rivals like CTS Eventim are expanding aggressively and reporting solid growth.

At the intersection of those points – the antitrust crackdown and the stiff competition in Europe – Live Nation is apparently zeroing in on different regions. Besides today’s buyout, that refers to recent venue investments in Singapore, Portugal, Canada, and South Africa, on top of ticketing pushes throughout Africa and elsewhere.

Separately, Japan-focused expansions aren’t confined to the events side. Universal Music bought A-Sketch in February, Hybe rebranded its Japanese division that same month, and Believe in March scored a Teichiku Entertainment distribution deal.

Sioux Falls, South Dakota. Photo Credit: Maxpower2727

TikTok could operate out of South Dakota if its U.S. sale closes – at least according to numerous reports coming from the Mount Rushmore State.

Local outlets covered the interesting possibility on the heels of a related Facebook post from South Dakota Governor Larry Rhoden. While it probably goes without saying, the outcome hinges on (among other things – more on this in a moment) TikTok actually selling its stateside operations.

At present, a divestment deal (though reportedly near wrapping for a time) appears far from guaranteed, we broke down in detail.

But should TikTok U.S. find a particular buyer and finalize an agreement, its domestic headquarters may end up in South Dakota, population 925,000.

“We are working with a potential buyer for TikTok to explore bringing the company to South Dakota,” Governor Rhoden indicated in the aforementioned Facebook post.

“The Noem-Rhoden Administration led the movement to ban TikTok for state government, so we are the perfect spot for a new and improved TikTok,” he continued.

The same message linked to a formal release from Rasner Media, which belongs to the namesake Wyoming entrepreneur Reid Rasner and made a $47.45 billion offer for TikTok’s U.S. operations in late February.

In the corresponding announcement, Rasner touched on a “vision to base TikTok in Wyoming—powered by the state’s low-cost, clean energy like LNG, coal, and nuclear.”

Evidently, things subsequently changed. On this front, Rasner (the businessman, that is) in the mid-April release elaborated that “South Dakota has stepped up as a strategic partner.”

Running with the point, the entrepreneur’s bid has received endorsements from not just the governor, but the South Dakota Retailers Association and the South Dakota State Chamber of Commerce, Rasner Media noted.

To state the obvious, Rasner Media isn’t alone in vying for TikTok U.S., which multiple investor groups are looking to purchase. Thus, the app’s setting up shop in South Dakota depends both on a deal going through and on Rasner Media’s having the winning bid.

Nevertheless, South Dakota’s support is significant on several levels. Keeping the focus on the big picture in the interest of brevity, should TikTok sell in the U.S., the transaction will necessitate a largescale reorganization, to put it mildly.

That includes not just establishing the revamped app’s headquarters (and replacing at least some departed execs), but opening different offices, striking fresh third-party deals, and a whole lot else. In other words, South Dakota could fit into the TikTok U.S. picture in some form regardless of the (possible) buyer.

Believe founder Denis Ladegaillerie, whose digital music company has taken another step towards privatization. Photo Credit: Believe

Is Believe officially going private? It looks that way, as founder Denis Ladegaillerie and investment firms EQT and TCV have moved to acquire the company’s remaining public shares.

Through a consortium called Upbeat Bidco, those parties say they own nearly 97% of Believe’s share capital and possess over 95% of voting rights. Long story short, the sizable interest resulted from a 2024 tender offer that Upbeat Bidco spearheaded despite strong indications of a Believe takeover attempt from Warner Music Group.

Ultimately, Warner Music opted against submitting a formal bid for Believe, which IPO’d in 2021 and trades as BLV on the Euronext Paris. Despite its above-noted BLV holding, however, Upbeat Bidco didn’t convince every Believe investor to sell their shares last year.

As things stand, 3.35% of Believe share capital belongs to third parties. Enter Upbeat Bidco’s newly disclosed privatization push, which is offering the business’s lingering stakeholders €15.30 per share.

This represents a modest premium from BLV’s recent prices and from the original €15-per-share tender offer, the consortium pointed out in more words. BLV was hovering right around the €15.30 mark at the time of writing.

According to the consortium, an “ad-hoc committee” (consisting of the three Believe board members without ties to Upbeat Bidco) unanimously endorsed the privatization proposal. Pending approval from France’s Financial Markets Authority, the offer is expected to run through Q2 2025, per the official announcement.

Notably, the consortium seems to have a plan in place should any shareholders resist selling. Once the offer period concludes, the relevant Believe stockowners will “receive a compensation equal to the Offer price” as part of a “squeeze-out,” Upbeat Bidco emphasized.

In other words, it appears that Believe’s run as a publicly traded company is coming to an end. Though time will tell exactly what the point means from a strategic and operational perspective, we aren’t without insight here.

During 2024’s latter half, an acquisition-minded Believe scooped up 25% of Romania’s Global Records and the remaining 40% of Turkey’s Doğan Music. Additionally, Believe, which posted solid 2024 financials, scored a “landmark” distribution deal with Japan’s Teichiku Entertainment three weeks ago.

All that said, recent months haven’t lacked less-than-positive developments for Believe, which, along with its TuneCore subsidiary, is facing a $500 million lawsuit submitted by Universal Music Group.

The high-stakes infringement battle is still in its early stages; Believe’s official answer and an initial pretrial conference are now slated for June 4th and 18th, respectively.

Vobile has officially announced a Pex buyout deal. Photo Credit: Pex

Self-described IP protection, monetization, and marketing specialist Vobile has officially acquired Pex.

Santa Clara-headquartered Vobile confirmed the buyout in a brief release today. Founded two decades back by Yangbin Wang (who doubles as CEO), the publicly traded business bills itself as “a worldwide leader in digital content protection and transaction services.”

As things stand, the purchaser is said to provide digital fingerprinting for a variety of video content. Vobile’s other products include a social-media rights-management offering and the AI-powered DreamMaker creative platform (which only rolled out last month), the appropriate website shows.

Now, the company (which already counts Sony Music and Warner Music as clients) is evidently leaning into audio. Against the backdrop of a well-documented gen-AI explosion, Wang touted the Pex deal as one piece of an effort to meet evolving rightsholder needs.

“Vobile has been at the forefront of helping global entertainment companies to protect and monetize their content in a rapidly evolving digital landscape,” said the Vobile chairman and CEO. “By integrating Pex’s advanced audio technologies, we are expanding our service capabilities to meet the growing needs of rightsholders, especially as generative AI reshapes the future of creativity.”

On the financials side, Vobile opted against publicly disclosing the hard numbers behind the Pex deal. But the entity (which reported HK$1.2 billion, currently $154.7 million, in H1 2024 revenue) did confirm that Pex’s “team has joined Vobile subsequent to the acquisition.”

However, Pex founder and now-former CEO Rasty Turek has stepped away from his company, the relevant LinkedIn profile shows. Others are in fact remaining aboard Vobile, their own profiles indicate; Pex framed the sale as the beginning of its “next chapter.”

“Joining Vobile marks an exciting new chapter,” echoed Pex COO (now Vobile’s EVP and head of music business) Amadea Choplin. “Together at Vobile, we can make an even greater impact for our clients.”

Vobile’s aforementioned H1 2024 revenue spiked 17.7% YoY, and about half the sum stemmed from operations in the Chinese mainland, the document specifies. The company achieved a relatively modest 8% YoY boost in China during the six-month stretch, compared to a 30.1% YoY hike for all other markets, per the report.

Last month, AI-focused cybersecurity firm GetReal Security scored a $17.5 million raise, and Sony Music led AI licensing startup Vermillio’s $16 million Series A.

Photo Credit: !K7

Create Music Group has announced the acquisition of indie electronic label !K7. The deal was already in motion before the death of !K7 Founder Horst Weidenmueller in February 2025 at age 60.

A representative shared the following statement from Weidenmueller. “This transition is a deeply personal one for me, but I know that with Create Music Group, !K7 is in the right hands. Create Music Group shares our commitment to artists, labels, and creativity, and I am confident that this partnership will strengthen !K7’s legacy while opening new doors for the future. I want to thank our incredible team, partners, and artists for being part of this journey—what we have built together will continue to thrive and evolve for years to come.”

Create Music Group (CMG) acquired the independent label for an undisclosed sum, marking its second major acquisition this year. The first was a $55 million Deadmau5/Mau5trap catalog deal that CMG struck in March. The !K7 acquisition strengthen’s CMG’s electronic music portfolio, leveraging 40 years of brand equity and !K7’s physical distribution network.

“Though Horst Weidenmueller, the founder of !K7 is no longer with us, his words and vision continue to resonate,” shares Tom Nieuweboer about the acquisition. “Over the past 40 years, !K7 has grown into a global force while staying true to its independent spirit. This partnership marks an exciting new chapter for !K7, allowing us to scale our vision while staying true to our core values of independent artistry, innovation, and quality.”

“We are thrilled to welcome !K7 and its iconic DJ-Kicks series to the Create Music Group family,” adds CMG’s Senior VP of Global Corporate Development and M&A Eric Nguyen. “This acquisition not only deepens our footprint in electronic music but also reinforces our commitment to forward-thinking music across a wide spectrum of specialist genres represented by its globally respected imprint Strut Records. We’re proud to support the innovative spirit that defines the !K7 catalog. We look forward to powering the next chapter for !K7, it’s exceptional roster of artists, and its visionary label partners around the world.”

A live performance from Fatherson, one of the acts signed to Easy Life Records. Along with several other Easy Life entities, the label has been majority-acquired by All Things Considered. Photo Credit: Paul Hudson

All Things Considered (ATC) has acquired a majority interest in Jamie Osman’s Easy Life Entertainment management company and label.

London-headquartered All Things Considered revealed the purchase in a brief release this morning. Per the buyer, which has closed a number of acquisitions during the past year and change, today’s play extends to 11-year-old Easy Life’s management unit (Real Life), namesake label (formerly a Sony Music JV), and PR agency (Turn the Page) alike.

(The formal announcement doesn’t mention Bear Creative or Kingswood Studios, which are said to have operated under the Easy Life Entertainment banner as well.)

On the management side, Real Life’s roster features Mouth Culture, Kids in Glass Houses, and Bears in Trees, according to the appropriate website. Said website displays 13 total clients; only 11 acts are said to be coming aboard All Things Considered, however.

Meanwhile, Easy Life Records’ signed talent includes but isn’t limited to Fatherson, Softcult, and Normandie. The transaction encompasses the label’s north of 300-master catalog, the involved parties noted, identifying as well about £510,000 (currently $650,000) in annual revenue for the overarching Easy Life.

Regarding valuation, ATC pointed to a cash “Net Acquisition consideration” of $956,598/£750,000, calculated “after netting off a post-completion dividend” of $357,124/£280,000 payable to the purchaser.

In a statement, All Things Considered head Adam Driscoll touted the buyout as another step towards solidifying his business’s “position as a fully integrated music company.”

“Jamie is well respected in the industry and brings considerable experience and an extensive network of client and industry relationships,” Driscoll said in part. “The Acquisition adds a meaningful revenue stream to the business through predictable, recurring music royalty income.

“In addition, by expanding our service offering, we have strengthened our ability to support artists at every stage of their careers, further solidifying our position as a fully integrated music company,” concluded the Fuel Music owner.

As mentioned, the play is the latest in a line of deals for the Driift stakeholder All Things Considered, which, via its Sandbag interest, says it handles “all merchandise sales” for ABBA Voyage.

In February 2024, the Familiar Music owner ATC took a 50% stake in concert and festival organizer Mckeown Events, to name one example. May 2024 then saw ATC buy 55% of Raw Power Management, which reps Bullet for My Valentine, The Damned, and The Mars Volta, among others.

The European Commission headquarters in Brussels. Photo Credit: EmDee

Regulatory scrutiny of Universal Music Group’s Downtown Music deal is heating up in the EU, where the acquisition has been referred to the European Commission (EC) for review.

That development just recently entered the media spotlight – and drew praise from organizations including IMPALA, which has criticized the possible Downtown sale since its December 2024 announcement.

One of the latest deals in a line of consolidation-focused moves from the majors – which have also bought A-Sketch, Africori, Tempo Music, and more on the year – the Downtown purchase was initially expected to wrap in mid-2025.

But amid continued antitrust-investigation calls and the potential EC inquiry, that timetable could be changing.

Importantly, the European Commission has yet to make a formal announcement or decision regarding the referral. Nevertheless, the news suggests the UMG/Virgin deal for Downtown won’t simply receive a rubber stamp.

Shifting now to a late-March report from London-based MLex, it’s the Netherlands’ competition watchdog that asked EU officials to review Hilversum-headquartered UMG’s proposed purchase.

Per the same report, though, Dutch regulators weren’t (and aren’t) the only ones with competition concerns. Until the Netherlands’ referral came through, Austria’s own watchdog had reportedly been considering entreating the EC to step in.

As to where things proceed from here, the Commission has reportedly informed all EU member states of the referral – and given them 15 working days to back the request if so inclined. After that, the EC will reportedly take as many as 10 additional working days to decide whether to move forward with an investigation.

In other words, it looks like we’ll have to wait until later in April to see how the situation unfolds for the [PIAS] parent on the regulatory side.

Closer to the present, IMPALA executive chair Helen Smith touted the EC referral as “a crucial step towards putting a stop to UMG’s juggernaut strategy.”

“It shows two things; that regulators see the threat that this strategy poses to the market, and that the consequences go beyond national borders. It’s Europe’s competition, Europe’s diversity as a whole that is at stake,” Smith communicated.

Meanwhile, outside the EU, Association of Independent Music CEO (and IMPALA board member) Gee Davy called on UK regulators to also probe the suggested sale.

“We are encouraging the CMA [Competition and Markets Authority] to inspect the impact in the UK and similarly take a tough stance. They already concluded that further consolidation would be grounds for investigation when they assessed the market in relation to streaming, so we call on them to act now to protect the UK market for the benefit of all,” Davy said in part.

xAI has acquired X in a multibillion-dollar deal, but the social platform is still entangled in a copyright infringement suit levied by 17 music publishers. Photo Credit: Dima Solomin

xAI has acquired X (formerly Twitter) in an all-stock transaction. Despite the multibillion-dollar deal, however, the social platform is still facing an infringement suit from almost 20 music publishers.

Elon Musk unveiled the purchase in a post on the relevant social service. “The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt),” he noted, emphasizing as well X’s “more than 600M active users” and the combined entity’s “immense potential.”

“Today,” Musk continued, “we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”

Of course, the precise effects of that “blending” remain to be seen; other coverage of the purchase doesn’t look to have disclosed many details besides those included in Musk’s post.

But at the top level, one needn’t be an AI expert to grasp the arrangement’s inherent training advantages – especially given that X’s constant stream of content and interactions flows in a multitude of languages.

(Turning for a moment to X’s privacy settings section, unless users have opted out, their “public data” might be used “to train and fine-tune Grok and other AI models developed by xAI.”)

Keeping the focus on what we do know, new ownership structure or not, X hasn’t completely shaken the copyright infringement suit filed against it by 17 National Music Publishers’ Association (NMPA) members.

We’ve covered the legal battle, centering on X’s alleged failure to adequately address users’ repeat infringement, since it initiated in June 2023.

Despite garnering less media attention amid high-stakes copyright suits against gen AI giants, not to mention music publishers’ ongoing Spotify showdown, the case has been chugging along all the while.

As things stand – and with a trial not expected until 2026 at the earliest – the publishers and X are locking horns in an involved discovery sub-dispute. Last week, the presiding judge signed off on the parties’ joint request to expand a related protective order, which now extends to additional “commercially sensitive” information.

Meanwhile, the music publishers submitted an amended action towards 2025’s beginning. X promptly refuted this retooled suit, though neither the updated complaint nor the appropriate response looks to have broken much new ground.

Perhaps the most interesting takeaway here is the publishers’ decision to reiterate already-dismissed (in March 2024) direct and vicarious copyright claims.

“Plaintiffs have left those claims in the Amended Complaint to preserve all rights as to those claims,” the publishers explained.

Brandon Silverstein, who’s signed on as CEO of the newly minted Avex Music Group. Photo Credit: Hidefumi Hase

Less than one year after investing in S10 Entertainment, Japanese entertainment conglomerate Avex has acquired the company’s publishing division.

Avex (TYO: 7860) disclosed the newer play in a formal release this morning. Last May, the Tokyo-headquartered business finalized (via Avex USA – more here in a moment) a “strategic investment” in S10 Entertainment.

At the time, Avex described S10 Entertainment, founded by Jay-Z’s Roc Nation and Brandon Silverstein, as the “management division” of the overarching S10. The separate S10 Publishing, on the other hand, set sail in 2020 as a JV involving Avex and Silverstein.

Returning to today’s news, then, Avex says it’s acquired the entirety of S10 Music Publishing’s catalog and secured “an additional stake” in S10 Management to boot.

The latter interest means Avex possesses “the largest share in S10 Management alongside Silverstein and Roc Nation,” per the text.

Next, the arrangement has brought with it the official launch of Avex Music Group (AMG), a newly formed entity led by Silverstein and housing S10 Publishing as well as the above-mentioned Avex USA’s assets.

Besides serving as CEO, Silverstein is a partner and equity stakeholder in LA-headquartered AMG, where he’s set to join the board, the companies explained. (At least in the stateside release, Avex didn’t elaborate on the professional status of Avex USA CEO Naoki Osada.)

Avex USA employees are coming aboard AMG, the parties clarified for good measure, with “S10’s existing team and operations” remaining “unchanged.”

“Since forming our strategic partnership with Brandon Silverstein in 2020,” Avex CEO Katsumi Kuroiwa added in part, “we have strengthened our presence in the U.S. market, and now, we are taking that vision to the next level.

“By deepening our commitment and entrusting Brandon to lead our U.S. operations, we are not only expanding our footprint but also positioning Avex as a potent force in the international music landscape,” he continued.

With all that said, the maneuvers don’t extend to (and won’t take Silverstein away from) every component of the main S10.

The distinct S10 Management will “maintain a separate staff and will continue to be led by Silverstein as CEO,” per the text.

Additionally, “Silverstein will continue to own and lead S10 Records, which will remain a completely independent record label,” the companies stressed.

DMN reached out to Roc Nation for further information about its current S10 stake and relationship with Avex, but didn’t immediately receive a response.

The joint Infinite Reality and Napster logo. Photo Credit: Infinite Reality

Napster has once again sold – this time to self-described “social metaverse technology company” Infinite Reality, which says it paid over $200 million.

Infinite Reality (IR) reps reached out with word of the $207 million transaction’s “definitive agreement” this morning. It’s now been four years and change since MelodyVR purchased the rebranded Napster for a reported $70 million.

(MelodyVR is seemingly defunct; Companies House documents indicate that the entity formally shut down in 2023. As things stand, the shuttered business’s web address redirects one to some sort of Indonesian-language shopping site resembling Amazon and dealing in virtual slot-machine games.)

At the time of the 2021 sale, Napster was operating not as an infamous music-sharing platform, but as a fully licensed streaming service. Keeping the focus on top-level details here, 2022 then saw Napster find yet another new owner.

Jumping back to the current year, Napster remains on the fringes in the crowded on-demand space, DMN Pro’s streaming market-share data shows.

Nevertheless, the rebranded Napster has evidently found users – though we were recently reminded of the point for less-than-positive reasons. Closer to the beginning of 2025, reports alleged multi-month royalty-payment delays from the company.

In any event, those royalty woes are presumably in the rearview with today’s deal, which also appears poised to usher in a comprehensive pivot for Napster.

According to Infinite Reality, co-founded and led by former Display Social CEO John Acunto, it intends “to transform Napster beyond streaming into a social and interactive music platform.”

Among other things, the plans include initiatives centering on Infinite Reality’s Drone Racing League and esports holdings. Having announced a $3 billion raise at a $12.25 billion valuation in January 2025, IR further deals in “AI-powered virtual stores and experiences,” IRL event production, and more, its website relays.

On the artist side (and against the backdrop of a well-documented embrace of superfan initiatives in the streaming world), Infinite Reality touched on several objectives for Napster moving forward.

The forthcoming Napster iteration, the purchaser communicated, will enable talent to sell merch (physical as well as digital), host virtual concerts and listening experiences, leverage a variety of AI customer-service tools, and tap into “enhanced analytics dashboards to better understand fan behavior,” to name a few features.

“By acquiring Napster,” Infinite Reality head John Acunto added in part, “we’re paving a path to a brighter future for artists, fans, and the music industry at large. … I firmly believe that the artist-fan relationship is evolving, with fans craving hyper-personalized, intimate access to their favorite artists, while artists are searching for innovative ways to deepen connections with fans, and access new streams of revenue.

“We’re creating the ultimate music platform where artists can thrive in the next wave of digital disruption,” the former Recording Academy member concluded.

Lastly, Napster CEO Jon Vlassopulos is expected to continue at the helm while simultaneously taking “on a broader role” within Infinite Reality.

“With Infinite Reality’s expertise in immersive 3D technology,” the former Roblox music exec Vlassopulos said in part, “we will transform Napster into a next-generation platform where fans don’t just listen on their own—they experience music in entirely new ways.”

(l to r) Stem CEO Milana Lewis, Concord Label Group head Tom Becci, and Stem president Kristin Graziani. Photo Credit: Erica Hernandez

Concord has officially acquired Stem Disintermedia’s distribution division and confirmed the spin-off of the Tone royalty platform.

Nashville-headquartered Concord reached out with a formal confirmation this morning, after we took an in-depth look at the soon-to-be-announced transaction last week.

Also as of last week, evidence suggested that the purchaser, having reportedly topped interested parties including Sony Music, was only securing certain components of Stem’s indie-distribution and artist-advance operation.

Now, Concord itself has acknowledged as much, noting that the partial acquisition specifically encompasses Stem Distribution.

Moving forward, the latter “will continue to be operated as a separate division” under existing execs Milana Lewis (CEO) and Kristin Graziani (president), the buyer indicated.

On the personnel front, “[c]urrent staffing and operations are not anticipated to be affected by the deal,” per Concord, which further underscored plans to “accelerate Stem’s global expansion.”

“Milana and her team have spent a decade creating a company that provides immense value to both artists and labels,” added Concord CEO Bob Valentine. “Like Concord, their focus has always been giving artists the tools they need to realize their visions and grow their careers. I am excited to welcome the Stem team to Concord and look forward to witnessing our collective success.”

As for what’s not included, Stem’s Tone royalty-management platform “is being spun off and will be a stand-alone business going forward with Concord as one of its investors,” according to the purchaser.

It’s unclear exactly what this means from a team-member perspective. Tone has between 11 and 50 employees, its LinkedIn page shows, though unsurprisingly, there’s quite a bit of staffing overlap between the entity and Stem proper.

Meanwhile, Concord in its official release didn’t come right out and elaborate upon the status of Stem’s Scale, which handles artist advances. But according to The Hollywood Reporter (and given the release’s emphasis on Stem Distribution), the deal doesn’t extend to the financing side.

Regarding the price tag, Concord and Stem opted against disclosing valuation particulars, and it appears we’ll have to be content with a rather broad approximation.

Last week, we pointed to a potential $100 million Stem sale price – roughly double the amount identified by some but not all rumblings surrounding the transaction pre-announcement.

Earlier today, Variety seemed to (largely) agree with that pricing possibility; to name one piece of evidence, the appropriate coverage’s URL contained “90-million” at the time of this writing.

Nevertheless, for a while post-publishing, the article body was updated to axe any mention of the $90 million price. Then, another round of edits apparently brought the figure back into the text, which still touches on the $50 million value “rumored earlier.”

In other words, at least when it comes to public knowledge, things aren’t set in stone here. And as we previously reported, despite the above-described spin-off, even $100 million wouldn’t necessarily represent a massive multiple for investors.

Photo Credit: RDNE

Concord Music’s rumored acquisition of Stem Disintermedia is fetching a bigger price tag than previously thought, according to DMN sources.

For those who love that music industry deal flow, here’s ‘another one’: according to well-placed sources to DMN, Concord Music is plunking down more than $100 million for indie music distributor and artist financier Stem Disintermedia. That is more than double earlier whisper numbers — and apparently this is a ‘done deal’ with final details being tied up.

In terms of bringing this home, big props are being given to Stem’s ultra-shrewd co-founder and CEO, Milana Lewis. Lewis didn’t respond to a request for comment on the latest whisper number, and a Concord representative was also mum. Incidentally, DMN has also learned that this deal derby featured multiple interested parties — including Sony Music Entertainment — though it appears that bidding battles were relatively tame.

Earlier, various trade rags offered differing takes on what’s happening. Among the reported details are a sale price of $50 million—or definitely not—with a full-blown sale being transacted (or maybe it’s just an ownership stake). On the last point, DMN sources have explained that this is a finalized transaction, though nothing official has been released, so stay tuned.

But, is $100 million really that great?

Some well-heeled dealmakers, including The Raine Group and the venerable Fred Davis, are pulling the strings on this one. But doing the math, this may be less of an epic dunk than it appears: According to data from DMN Pro’s authoritative Music Industry Funding Tracker, Stem has pulled in roughly $42.5 million in funding since its founding in 2015, with an additional $250 million credit facility secured last year to power an artist-financing expansion, including artist advances.

That suggests a modest investor return for all parties involved despite the 9-figure sticker. Will anyone score lifetime ‘F-U money‘ once this deal is closed? Aside from the company principals and even angels, the list of investors is lengthy and includes Evolution Media, Aspect Ventures, WndrCo, Upfront Ventures, Block, Slow Ventures, and QED Investors, among others.

That raises the question: perhaps this is a good time to get out in a frothier moment for indie distributors?

On that last point, some static has emerged over Stem’s financing terms, with rising interest rates and tighter lending standards impacting artist deals.

Indeed, this has apparently become a growing issue at Stem, given that sought-after artists can shop around for better deals and advances, pushing up the price of scoring high-performing talent relationships. Beyond that, the broader bonanza era of low-interest rates couldn’t be more over, putting enormous pressure on leveraged plays.

(Incidentally, those plunging into the funding deals in DMN Pro should not confuse Stem with the NFT-focused ‘Stems,’ which secured a $4 million round in late 2022.)

Back to the matter at hand, broader questions are now percolating on whether Warner Music Group was merely kicking the tires on Stem — or if they were even seriously at the table.

Just recently, WMG chief Robert Kyncl pooh-poohed the notion of acquiring independent distributors, preferring to build rather than buy. It all sounds logical, though that takeaway seems to contradict rumors that WMG was seriously bidding.

Just days later, WMG also acquired RSDL.io via its independent distro arm, ADA, suggesting that Kyncl might be playing a Steve Jobs-like game of ‘reality distortion’ to calm rival bids.

Separately, it looks like business as usual at Stem despite the hastening acquisition.

Earlier this week, Stem Director of Artist & Label Strategy Kylie Everitt picked apart some indie distribution details at Musexpo at the Castaway in Burbank, part of a broader industry panel moderated by Digital Music News that also included execs from Gyrostream, Audeze, Strm Music, Hook, and Chartmetric.

More as this develops.

Primary Wave has confirmed a deal for the Notorious B.I.G. catalog. Photo Credit: Primary Wave

Weeks after reports suggested that Primary Wave was poised to take a 50% interest in the Notorious B.I.G. catalog, higher-ups have confirmed the deal.

Primary Wave disclosed the transaction on its website, directing visitors to a related Wall Street Journal piece for additional info. According to the coverage’s presumably accurate figures, the New York City-headquartered purchaser valued Biggie’s “life’s work at over $200 million” as part of the play.

While sizable, that sum is well beneath the $300 million potential valuation pinpointed closer to March’s beginning. As we noted at the time, it’s best to take price-tag rumblings with a grain of salt in the catalog arena – especially since verified pricing details have proven comparatively modest.

Primary Wave opted against diving into its exact plans for the Notorious B.I.G. IP, which reportedly extends to recordings, publishing, and NIL alike. However, the Journal mentioned a possible Biggie Broadway production and forthcoming “immersive music experiences.”

Said experiences could incorporate the late rapper’s digital avatar, per the same source. Though similar licensing efforts previously delivered far-from-ideal results for the Biggie estate as well as fans, Primary Wave’s considerable experience and reach will likely render upcoming projects more fruitful.

And on this front, Primary Wave head Larry Mestel spelled out that his company will look to do “less but larger” with the Notorious B.I.G. rights moving forward.

Keeping the focus on what we do know, Biggie’s mother, having played a key role in managing her son’s body of work, passed away one month ago at the age of 78. According to the Journal, she personally approved the Primary Wave agreement “shortly” before her death.

But others have raised red flags about the circumstances surrounding the deal, referring specifically to the Biggie estate’s alleged effort to exploit the “Big Poppa” act’s family through the sale.

Unfortunately, IP disputes, including among family members and those in charge of deceased artists’ rights, aren’t exactly rare. The marathon legal battle surrounding James Brown’s catalog comes to mind, as does the more recent catalog-sale opposition voiced by Michael Jackson’s family.

We should know sooner rather than later whether the Notorious B.I.G. song-rights selloff is ushering in a dispute. Most immediately here, T’yanna Wallace, Biggie’s daughter, describes herself on social media as the owner and CEO of both Notoriouss Clothing and Brooklyn’s Biggie Experience museum.

Photo Credit: Noah Assad, Federico Lauria, Jonathan Miranda / by Eric Rojas

Rimas Entertainment acquires a stake in Dale Play Records, strengthening their global impact and commitment to independent artist development.

The world’s largest independent label, Rimas Entertainment, has acquired a significant stake in Dale Play Records, one of the leading forces in Spanish-language music. With this acquisition, Rimas solidifies a strategic partnership that will expand its global reach.

This partnership is the result of years of collaboration between both labels, united by a shared vision for the future of the Latin music market and a deep commitment to creative freedom. The agreement establishes a partnership between Rimas Entertainment, Dale Play Records, and Sony Music Entertainment, with Federico Lauria continuing as CEO of Dale Play.

The landmark deal was made possible thanks to the support of Rob Stringer (Chairman, Sony Music Group), Afo Verde, and the entire Sony Music family, as well as Brad Navin, Jason Pascal, and the team at The Orchard. Their collaboration has been instrumental in bringing this partnership to fruition, and their trust underscores the significance of this new chapter in the industry.

Both companies have established themselves as key platforms for Latin talent. Rimas Entertainment is home to some of the most influential stars in Latin music, including Arcángel, Bad Bunny, Cris MJ, Eladio Carrión, Mora, and Quevedo. Dale Play Records has been the driving force behind international stars like Bizarrap, Duki, Nicki Nicole, and Rels B.

As a result of this acquisition, Rimas Entertainment expands its global footprint, adding Dale Play Records’ operations in Argentina, along with offices in Mexico, Spain, and Uruguay. Those complement its existing presence in Puerto Rico, Mexico, Spain, and the United States.

“From day one, our mission has been to support and develop artists with authenticity and respect for their identity. With Federico and Dale Play, we’ve built a relationship founded on trust and mutual admiration. This alliance will allow us to break new boundaries and create opportunities for our artists and teams,” said Noah Assad, CEO of Rimas Entertainment.

Federico Lauria, CEO of Dale Play Records, added: “Afo and I have had a long-standing friendship for many years, united by a mission to elevated Latin music to the highest level. This partnership reflects a journey we have been on for many years with Noah, Jomy, and the Rimas team. We share the same vision and values, driven by a passion and a dream to take Spanish-language music and culture to the world.”

Afo Verde, Chairman & CEO Latin America, Spain, and Portugal at Sony Music, said: “I have great admiration for the achievements of both Fede and Noah. They epitomize the new generation of executives and label leaders, characterized by their independent spirit and innovative approach. Their dedication to their artists and vision for the future is truly commendable. It is a privilege to continue our partnership with them, and I look forward to the remarkable opportunities and accomplishments we will share as we continue to collaborate.”

Jonathan “Jomy” Miranda, President of Rimas Entertainment, added: “This alliance is key to expanding our global reach and connecting with talent wherever it may be. We have always been at the forefront of discovering new artists, and now, through this partnership, we will have ears in more corners of the world to support and develop the next generation of stars.”

The partnership marks the beginning of a new era for Latin music, where two independent, industry-leading labels — responsible for launching some of the most important Latin artists of the last decade — reaffirm their commitment to nurturing talent and expanding Latin music’s global reach.

Deadmau5 (second from left) has sold his body of work to Create Music Group for a reported $55 million. Photo Credit: Create

Another day, another EDM catalog sale – this time from Deadmau5, who’s sold his body of work to Create Music Group for a reported $55 million.

Flexpoint Ford-backed Create Music unveiled its latest purchase today, after wrapping 2024 by taking a 50% interest in dance label and publisher Enhanced Music.

As described by the buyer here, the agreement with Deadmau5 extends to some 4,000 compositions and recordings. That includes works from the 44-year-old DJ himself as well as releases from his Mau5trap label, which arrived on the scene in 2007.

Also in the cards are Deadmau5-Create Music collaborations on forthcoming projects dropping under a newly formed JV. Addressing the catalog agreement, both Deadmau5 and Create CEO Jonathan Strauss emphasized their long-running professional relationship and plans to bring the many works at hand to an even larger audience.

Regarding the price tag behind the sizable pile of IP, the initially mentioned $55 million is, of course, a hefty sum. On the other hand, it isn’t nearly as large as the figures attached to different catalog transactions, involving the likes of Calvin Harris and more, in the EDM world.

While one probably shouldn’t read too far into the sale price, it does raise questions about the overall firepower of EDM catalogs. Stated bluntly, economic uncertainty or not, massive valuations are far from rare in the wider catalog arena at present.

As for factors affecting the market worth of EDM IP in particular, the long-term impact of electronic-focused AI models comes to mind. So does the space’s huge library and steady stream of new (human-made) works; to name a few, Warner Music, Sony Music, and Believe debuted electronic labels and/or made related acquisitions last year.

2024 also saw Create Music score a $165 million raise, with Armada Music’s dance-focused investment fund, BEAT, having closed deals for Cloud 9 and more. And last month, Reservoir Media scooped up UK dance label New State, including the rights to north of 13,000 recordings.

Nevertheless, it hasn’t been all smooth sailing for Create, which Artist Partner Group sued in January for allegedly poaching artists and monetizing works without authorization. The defendant company promptly refuted the claims and has until March 15th to formally answer the suit.

In February, Create Music settled a months-old lawsuit filed by rapper Leander Burrowes (known professionally as Mazzeratti Duke), who’d accused the company of distributing his music without authorization.

The Notorious B.I.G. estate is reportedly in talks to wrap a multimillion-dollar catalog-sale agreement with Primary Wave. Photo Credit: Michael Lavine / Bad Boy Records

The Notorious B.I.G. estate is reportedly in talks to sell a variety of intellectual property for upwards of $150 million.

Rumblings of that sizable transaction just recently entered the media spotlight. But at the time of writing, the famed rapper’s estate didn’t appear to have commented publicly on the matter.

Despite the absence of a clear-cut confirmation, however, we aren’t without worthwhile details. Most immediately, the possible sale has emerged a little over a week following the passing of Notorious B.I.G.’s mother.

Voletta Wallace played a significant role in managing Biggie’s estate, body of work, and NIL rights, we noted towards last month’s conclusion. And the artist’s children, T’yanna Wallace and C. J. Wallace, are now 31 and 28 years old, respectively.

In other words, the sale rumor’s timing is interesting – as is the reported buyer at hand, Primary Wave.

According to the Hollywood Reporter, which cited anonymous and purportedly well-informed sources, the Notorious B.I.G. estate is “close” to finalizing the rights sale with the New York City-headquartered company.

While Primary Wave didn’t respond to a request for comment (or otherwise confirm the rumor) in time for publishing, the business isn’t a stranger to partnering with prominent professionals’ estates.

Though the marathon legal battle surrounding James Brown’s IP jumps out here, Primary Wave last year wrapped several such plays, including with the estates of Scott Weiland, Jerry Jeff Walker, and Ric Ocasek, sans legal friction.

Furthermore, the company has been targeting not only core song rights, but name, image, and likeness rights as well. Running with the point, the above-mentioned outlet identified a possible $100 million price tag for Biggie’s publishing and a potential recordings-interest sale value of between $30 million and $50 million.

The Biggie estate would include NIL rights on both sides, which would reportedly see Primary Wave take a 50% interest in the IP.

All told, that implies a $260 million to $300 million overall valuation – a massive figure that should, admittedly, be taken with a grain of salt – and underscores the catalog arena’s still-strong investor demand.

In February alone, Warner Music scooped up a controlling interest in the Tempo Music catalog JV, Reservoir Media bought dance label New State, T-Pain inked a catalog-sale agreement with HarbourView Equity, and reports attached a $350 million price tag to the Red Hot Chili Peppers’ rumored recordings divestment.

And in presumably unrelated Notorious B.I.G. news, the Biggie estate, after concluding a lengthy copyright confrontation in January 2024, kicked off February 2025 by launching an infringement lawsuit centering on the “King of New York” photo.

Reservoir Media has acquired New State and its over 13,000-recording catalog, which includes works from veteran DJ Paul Oakenfold (pictured). Photo Credit: Oliverrowles

Reservoir Media has officially scooped up New State, including the U.K. dance label’s over 13,000-track recorded catalog.

New York City-headquartered Reservoir disclosed the acquisition today, as multiple song-rights investors continue to zero in on electronic and dance IP. Keeping the focus on the New State play for a moment, Reservoir indicated that the transaction encompasses the “entire” recorded catalog at hand.

Among those mentioned 13,000+ works are releases from Zero 7, The Beloved, Paul Oakenfold, and Dirty Vegas, to name a few. As for New State’s “legacy” roster, the appropriate artists “will now be marketed and promoted by” Reservoir’s Chrysalis.

But the newly sold company, which per its website operates sub-labels Butterfly Effect, Maelstrom Records, and Upcycle Recordings, is poised to keep on “signing and releasing new music from electronic and dance artists under the existing brand,” Reservoir relayed.

Running with the point, longtime New State head Tom Parkinson will seemingly remain at the helm. In a statement, Reservoir president and COO Rell Lafargue touted the deal as “an exciting opportunity to expand our recorded music business.”

“With the global reach of our Chrysalis Records team now supporting New State’s legacy artists,” Lafargue proceeded, “we are well-positioned to elevate this incredible catalog, while also continuing to release new music through New State to push the brand forward.”

Regarding the expansion’s precise scope, Reservoir disclosed owning some 36,000 recordings as of 2024’s end – with the New State additions therefore increasing the IP pile’s size by more than 36%.

Reservoir also owns or controls a comparatively substantial 150,000 compositions. Against the backdrop of longstanding recording-composition distinctions and certain compositional-royalty headaches, the company posted $11.96 million in recorded revenue for calendar Q4 2024.

That represents a 19.65% YoY spike, compared to a 16.2% YoY boost for publishing in Q4 to $26.89 million. And growth for digital recorded revenue in particular approached 24% on the quarter, upping the appropriate category to $8.14 million, per Reservoir. (All told, the business confirmed spending $70.2 million on catalogs between April and December 2024.)

Then there’s the aforesaid broader focus on dance and electronic music. December 2024 saw Create Music Group buy half of Enhanced Music, to name one example, with Believe having taken a 25% interest in Romania’s Global Records over the summer.

Meanwhile, Armada Music’s dance-focused BEAT investment fund last year wrapped several deals, one for Cloud 9’s publishing unit; in October, the possibly buyout-crazed Warner Music followed by acquiring Cloud 9’s label.

SoloAI has announced a $2 million seed round. Photo Credit: Steve Johnson

AI-powered music generator and virtual artist creator SoloAI has announced a $2 million seed round.

SoloAI just recently disclosed the multimillion-dollar raise, which was led by HongShan (or HSG, formerly Sequoia China) and drew support from the likes of Story Protocol.

Per its website, the latter counts Endeavor as well as a16z Crypto as investors and “is the World’s IP Blockchain that transforms intelligence into Programmable IP assets.” Evidently, the function fits into SoloAI’s offering, which centers on the mentioned music generation but encompasses a few additional elements.

Beginning with this core creation capability, the startup bills itself as “a pioneering platform designed to democratize music creation” and says it enables users “to effortlessly compose, share, and monetize unique tracks using AI.”

While the capability isn’t exactly unique – the long list of AI music players now includes Suno, Udio, Melodio, and Boomy, to name only a few – SoloAI also appears to function as a streaming service and something of a social hub.

“Our platform isn’t just a tool—it’s a thriving community,” SoloAI penned in an August 2024 introductory thread on X. “Participate in talent show-style contests, get support, and showcase your talents.”

Perhaps more disconcerting than the push “to democratize music creation,” the business pumps out “AI-powered VTuber agents that utilize music as their core medium.” The virtual artists “can compose, perform, and interact with audiences in real time,” according to SoloAI.

One of those VTuber agents, DJ SONA, is live on SoloAI as well as Twitch. Though the digital DJ appears to have quite a long way to go before matching the skill and energy of human creators, it (she?) is already broadcasting 24 hours per day.

Apparently, DJ SONA has an X account, where, when asked about the relationship between SoloAI and Story Protocol, it clarified that “story’s on the decks, solo’s mixing the drinks, and sona’s setting the vibe.”

Lastly, in terms of what may help SoloAI stand out from the AI music crowd, the entity is said to be spearheading tie-ups involving “leading blockchain projects” – with its generated music becoming “a viral and tradeable digital asset on-chain.”

SoloAI prompts users to connect a crypto wallet when joining, and according to the company, these users will “soon” have the option of creating their own avatars.

Earlier in February, YouTube expanded its generative AI capabilities in Shorts, and AI-focused song-rights startup Musical AI scored $1.5 million in funding ahead of a planned seed raise later in 2025.

A live performance from Taiwanese rock band Mayday, one of the acts signed to A-Sketch. Photo Credit: Great Dream

Another day, another major label acquisition – this time from Universal Music Japan, which has scooped up a controlling interest in A-Sketch.

Universal Music Japan disclosed its deal for 17-year-old A-Sketch this morning. Initially established in partnership with telecom giant KDDI (TYO: 9433) as a subsidiary of artist management firm Amuse (TYO: 4301), A-Sketch itself manages acts and functions as a label.

And besides serving as the professional home of talent including Saucy Dog, Flumpool, and Ayumu Imazu, A-Sketch operates MASH A&R and oversees a “popular catalog.”

(A-Sketch’s roster also appears to feature several virtual acts, and per the appropriate website, the company has a hand in releases from Mandopop star Jay Chou. Chou partnered with Universal Music back in 2023.)

As for the deal’s terms, Universal Music Japan opted against divulging the price tag at hand. But the UMG division did make clear that it’d secured “the stake in A-Sketch currently owned by Amuse.”

On the personnel front, A-Sketch head Nobuyuki Soma is expected to continue leading the business – while reporting to Universal Music Japan CEO Naoshi Fujikura.

In a statement, Soma touched on the perceived “significant opportunities for international expansion” that the agreement will unlock.

“We are very excited to announce that A-Sketch will be joining Universal Music Group,” Soma relayed, “the global leader in the industry. This partnership will provide our artists with significant opportunities for international expansion, and we look forward to finding new synergies across all of our creative endeavors.”

On top of attracting international fans to A-Sketch releases, today’s transaction will, of course, bolster Universal Music’s positioning in Japan.

Despite already boasting the second-largest music market in the world, the nation of about 125 million is gradually embracing streaming – meaning, among other things, that the coming years are poised to deliver new revenue possibilities.

(Against the backdrop of continued music-sector growth in China and many other Asian nations, there are certainly adjacent commercial advantages to expanding in the region’s largest market as well.)

Running with the point, Warner Music last year reorganized its own Japan division and, in December, kicked off a “full-scale entry into” anime music under an NBCUniversal Japan pact. And today, Warner Music Japan officially announced the signing of Japanese boy band Psychic Fever.

With Elliot Grainge’s 10K Projects part of the tie-up to boot, Psychic Fever intends to reach “a wider audience in America and around the world,” 10K co-president Molly McLachlan spelled out.

Warner Music Africa MD Temi Adeniji, whose company now owns the entirety of Africori. Photo Credit: WMG

Why stop at majority ownership? Three years after scoring a controlling stake in Africori, Warner Music Group (WMG) officially owns the entirety of the African music company.

WMG, having first invested in Johannesburg-headquartered Africori about half a decade ago, confirmed as much via a formal release this evening. While the industry has experienced more than a few changes during the past five years, the focus on Africa’s quick-developing music markets (though perhaps more dialed in than ever) has been a constant.

Following its initial Africori investment, Warner Music secured the aforesaid majority interest in early 2022. Now, in connection with the 2022 deal, WMG “has completed its full acquisition of Africori.”

Moving forward, the 16-year-old distributor and artist services provider is expected to continue operating independently as a Warner Music subsidiary. And Africori founder Yoel Kenan will remain aboard as CEO, reporting to Warner Music Africa managing director Temi Adeniji.

The involved companies opted against disclosing the transaction’s financials – but related information may come to light in publicly traded Warner Music’s future earnings reports.

More immediately, the businesses did indicate that they’d “aligned their systems to allow Africori artists and songs to be upstreamed into the global Warner Music network.”

All told, Africori is said to boast north of 7,000 indie clients; to this point in 2025, the appropriate professionals have charted with works including but not limited to “Sdakiwe Sbali,” “Ndsize,” and “Vuka.”

In a statement, Warner Music Africa’s previously mentioned MD, Temi Adeniji, touted the buyout as “a landmark moment” for the major’s presence in Africa.

“Over the past four years,” continued the nearly nine-year Warner Music exec Adeniji, “we’ve shown that proper investment, synergies and cooperation have created value for artists, but also that Warner Music has helped energize and nurture the entrepreneurial spirit of a local partner.

“We’ve upstreamed Africori artists and plugged them into our global network, delivering international remixes and trend-driven cross-collaborations that have helped elevate their careers,” the higher-up concluded.

Especially in the approaching years, it’ll be worth monitoring the Africori sale’s commercial implications. African streaming upstarts like Mdundo are eyeing aggressive growth targets (other services, however, are encountering operational hurdles), and all manner of well-entrenched industry players are expanding across the continent.

Besides the possibly acquisition-addicted WMG itself, those players include the Quicket owner Live Nation (which in November 2024 unveiled a sizable South Africa venue investment), Mavin Global majority stakeholder Universal Music, and Yamaha, which is partnered with Audiomack. The latter finalized a bolstered Warner Music licensing deal earlier in February.

A live performance from Wiz Khalifa, one of the artists who’s recorded works in the Tempo Music catalog. Photo Credit: The Come Up Show

Warner Music Group (WMG) has purchased a majority interest in Tempo Music Investments, the catalog-focused JV it launched with Providence Equity Partners in late 2019.

The major label revealed that deal (besides its calendar Q4 2024 financials and a new Spotify licensing agreement) today. According to the appropriate release, WMG specifically secured “a controlling stake” in Tempo, with Providence Equity remaining aboard as minority owner for the time being.

Absent from the to-the-point release, however, are details about the transaction’s value and the reasons behind Providence’s decision to sell.

On the former front, it’s not a secret that recent years have delivered a sizable pile of song rights sales. Among other things, the sub-sector’s considerable volume has made it challenging to monitor and readily recall each deal. (Additionally, some purchases are closed without public announcements.)

But Tempo possesses pieces of works recorded by Twenty One Pilots, Adele, Bruno Mars, and Wiz Khalifa, to name a few. Regarding the types of rights at hand, WMG CFO Bryan Castellani ballparked Tempo’s IP makeup at 80% publishing, 20% recorded.

And just in passing, anonymous sources have placed Tempo’s value at around $450 million under the WMG deal; upon debuting, the fund reportedly had $650 million at its disposal.

Shifting to the motivation behind the sale, lacking a crystal ball, we don’t know exactly what prompted Providence Equity to cash out.

Focusing on what we do know, Warner Music CEO Robert Kyncl during his company’s earnings call confirmed an option to scoop up Providence’s remaining Tempo stake by 2027’s end. Also worth reiterating is that Providence sold European concert giant Superstruct last year.

As for the other side of the Tempo Music transaction, Warner Music hasn’t hesitated to emphasize its aggressive buyout strategy under Kyncl. Most recently, that strategy fueled the early 2025 acquisitions of the DWA and Extravaganza catalogs.

And it’s still been less than one year since Warner Music explored (but ultimately abandoned) the purchase of Paris-headquartered Believe.

2024 further saw the Cloud 9 owner WMG bring on Goldman Sachs vet Michael Ryan-Southern to “supercharge” its acquisition strategy.

“WMG and Tempo have a long-standing history and aligned interests in uplifting great music and catalogs,” Ryan-Southern relayed of today’s play. “This deal is a natural fit for us, and a good example of how our investment strategy is designed to build our scale and influence, while delivering additional revenue at a high margin.”

Elsewhere during Warner Music’s calendar Q4 2024 earnings call, execs touted the perceived control-related benefits of owning Tempo. Longer term, the “investment will become even more accretive as deals with other publishers roll off and we expand the scope of our direct control over the catalog,” Kyncl communicated.

A live performance from jazz guitarist Mike Stern, who released an album entitled Echoes and Other Songs via Mack Avenue in September 2024. Photo Credit: Tore Sætre

Exceleration Music has acquired Mack Avenue Music Group, including the 26-year-old jazz label group’s extensive catalog and active roster.

Exceleration formally announced that deal today, following its 2021 relaunch of jazz label Candid Records. Under the Exceleration banner, Candid has made its catalog available via streaming services, put out several reissues, and released new recordings from acts such as Eliane Elias.

Now, those operations are set to expand with the addition of Gretchen Carhartt Valade-founded Mack Avenue, which itself owns Rendezvous Music, Artistry Music, MaxJazz, Brother Mister Productions, and Strata-East Records.

(Described as a key proponent and backer of Detroit jazz by local reports, Valade, the granddaughter of workwear brand Carhartt’s founder, passed away in late 2022 at the age of 97.)

Per the purchasing party, Mack Avenue “will be integrated” into Candid to create “Exceleration’s overall jazz group.” And as part of the reorganization, Mack Avenue’s president of over 23 years, Denny Stilwell, is poised to lead the newly minted unit.

Also part of the team are “other key executives” from Candid as well as Mack Avenue, per Exceleration, which opted against diving into the personnel particulars here.

But the Redeye Worldwide parent did emphasize plans “to leverage its robust distribution, marketing, and technological resources” in an effort to bolster Mack Avenue’s “global impact.”

“We’re thrilled to welcome Denny, his team, and the incredible Mack Avenue artist roster into the Exceleration family,” added Exceleration partner and co-founder John Burk.

“The combining of Mack Avenue and Candid Records represents an important step in our mission to build the ultimate independent label home for today’s greatest jazz artists,” Burk proceeded. “Together, we will continue to honor the labels’ remarkable heritages while providing the resources and expertise to help our artists reach new heights.”

Though recent years’ acquisition explosion (extending to both song rights and entire companies) hasn’t delivered an abundance of deals specifically in the jazz arena, the genre isn’t without high-profile transactions.

That includes Reservoir Media’s February 2023 catalog agreement with Sonny Rollins, to name one major example.

In the bigger picture, despite the many already-wrapped IP acquisitions, catalog funding announcements and sales, as compiled by DMN Pro’s one-stop Music IP Acquisition Tracker, seem to be off to a strong enough start in 2025.

Technically, that start refers to just a handful of purchases, among them Warner Music’s buyout of the DWA and Extravaganza catalogs as well as the mentioned Reservoir’s deal for Lastrada Entertainment’s publishing.

However, Influence Media Partners this week scored $360 million in debt financing via its inaugural royalties securitization, and Warner Bros. Discovery (which had reportedly been exploring a possible music-IP sale for years) today unveiled a catalog JV with Cutting Edge.

Marshall Group has sold a majority stake to HongShan Capital Group. Photo Credit: Adam Tagarro

Marshall Group officially has a new owner: HongShan Capital Group (HSG), which has acquired a majority interest in the “audio, tech and design powerhouse” at a $1.16 billion (€1.1 billion) valuation.

Stockholm-based Marshall and Hong Kong-headquartered HongShan (formerly Sequoia China) quietly announced the acquisition in a brief release. Still subject to regulatory approval, the transaction will see the Marshall family retain about 20% of the business.

But existing stakeholders including Altor, Telia, Time for Growth, and Zenith VC (which invested in 2016) are cashing out of the 63-year-old company. And per HSG, which owns pieces of Alibaba, ByteDance, and a multitude of others, the play is its largest in Europe thus far.

“This deal is a testament to our team’s dedication and exceptional talent in making our vision a reality,” added Marshall Group CEO Jeremy de Maillard. “Together with HSG and the Marshall family, we have the perfect conditions to continue building on Marshall’s iconic status and unlocking our full potential across the world.”

In remarks of his own, Marshall board member and co-founder Terry Marshall indicated that the deal will enable his company to “build on our history to amplify the love for music and the Marshall brand for decades to come.”

Meanwhile, with the benefit of hindsight, we can see that the sale was perhaps years in the making for Marshall, which has approximately 800 employees.

First, the business only started grouping the whole of its operations – the core amplifier division as well as units responsible for Bluetooth speakers, headphones, artist services (including an active label), and different offerings – in 2023.

Next, Marshall emphasized that its revenue had more than doubled across 2020 and 2024 to north of $420 million/€400 million. And in a brief release about its Q3 2024 financials, the business previously pointed to net sales of $102.43 million/SEK 1.12 billion (up 15% YoY) and adjusted operating profit of $27.82 million/SEK 304 million (up 29% YoY).

Closing with a brief look at the significance of the purchaser’s location and regional reach, it’s hardly a secret that China and Hong Kong boast increasingly lucrative music spaces.

Notwithstanding CEO Michael Rapino’s position that the Chinese mainland isn’t “a good business” when it comes to promoting tours, Live Nation scooped up Hong Kong’s Clockenflap in 2023.

Closer to the present, Believe this past summer made multiple high-profile appointments in Greater China. And in 2024’s final quarter, Universal Music partnered with Chinese indie Modern Sky, unveiled an iQIYI tie-up, and, via Virgin Music Group, scooped up Beijing’s Outdustry.

MrBeast the TikTok owner? The YouTuber says he’s exploring a bid for the ByteDance-owned app’s stateside operations. Photo Credit: Steven Khan

Will MrBeast buy TikTok? Possibly, as the YouTuber and businessman has confirmed an “official offer” for the app’s stateside operations.

That’s one of the many noteworthy TikTok-related details to emerge in recent days. But given the app’s rollercoaster ride over the weekend – besides the intensifying competition from TikTok rivals, a permanent shutdown’s music industry impact, and more – the development has largely flown under the radar until now.

Back on January 13th, however, MrBeast (real name Jimmy Donaldson) posted on X about his willingness to “buy Tik Tok so it doesn’t get banned.” In a follow-up message the next day, the entertainer noted that he’d had “so many billionaires reach out” about the tongue-in-cheek tweet.

Placing the important point on the backburner for a moment, January 19th saw an investor group led by Employer.com founder and head Jesse Tinsley disclose an all-cash offer for TikTok. This bid, the consortium noted, had specifically come from “institutional investors and high-net-worth individuals.”

And while the prospective TikTok purchaser opted against publicly naming these investors and individuals, MrBeast subsequently pointed (in a TikTok video) to his making an “official offer” for the platform.

Additionally, a CNN report yesterday connected MrBeast to the Tinsley-led group. Sometime thereafter, a rep clarified for ABC that MrBeast was in active talks with multiple groups but hadn’t definitively committed to any via “exclusive agreements.”

Nevertheless, it appears that the Amazon-partnered professional, whose net worth is reportedly $500 million, is exploring a TikTok deal in earnest. Regarding the non-exclusive nature of the discussions, the 26-year-old’s media reach and following, particularly significant because of their nonpartisan nature, would arguably be more valuable than any sum kicked in for the possible buyout.

Of course, others are also looking to swoop in and buy TikTok’s U.S. operations within the next 74 days.

We previously reported on a formal offer from Frank McCourt’s The People’s Bid for TikTok, which counts as a partner Kevin O’Leary. (O’Leary is now raising concerns about the so-called “golden share” in TikTok and its impact on the buyout efforts.)

Reports have suggested that Elon Musk (net worth $434 billion) could perhaps buy the platform, but it remains to be seen if the billionaire is interested in doing so.

Plus, President Trump yesterday mentioned Oracle’s Larry Ellison as a potential purchaser, and reports have indicated that Jeff Bezos-backed Perplexity AI is proposing a straight merger with TikTok in the States.

To restate an obvious-but-important point involving the previously highlighted “golden rule,” any such deal for TikTok in the U.S. would have to receive approval from the Chinese government. And bearing in mind the mentioned deadline for ByteDance and TikTok to close a divestment, which won’t exactly happen overnight, we should have concrete details about the likeliest outcome sooner rather than later.

A live performance from Janet Jackson, one of the many artists who have recorded works featured in the catalog of Lastrada Entertainment. Photo Credit: J Vettorino

Reservoir Media has officially acquired the publishing catalog of Lastrada Entertainment – including interests in works recorded by Jim Croce and many others.

New York City-based Reservoir and 38-year-old Lastrada reached out with word of their deal today. While the same parties opted against identifying the financial specifics at hand, they did indicate that the transaction encompasses north of 5,600 compositions.

Among those compositions are commercially prominent efforts like Croce’s “Bad, Bad Leroy Brown” and “Time in a Bottle,” Captain & Tennille’s “Love Will Keep Us Together,” and Zapp’s “More Bounce to the Ounce,” according to the announcement.

(More than a few different releases, recorded by Tina Turner, Latto, and an array of other talent, are featured in Lastrada’s online catalog database. But several of the relevant stakes seemingly only involve masters and look to be excluded from the IP-sale agreement as a result.)

Meanwhile, thanks to a variety of samples – 2Pac incorporated Ronnie Hudson’s “West Coast Poplock” into “California Love,” to name one example – the purchase also includes interests in works recorded by Ne-Yo, Yo Gotti, Dave East, Kanye West, Usher, Drake, Gucci Mane, Eminem, Wiz Khalifa, Snoop Dogg, Ice Cube, and Rick Ross.

(Despite its varied IP investments and holdings, Reservoir has zeroed in particularly on hip-hop in recent years. 2024 saw the business ink publishing deals with Snoop Dogg as well as Death Row, on top of investing in the work of 2Pac collaborator Big D Evans, for example.)

In a statement, Reservoir chief operating officer Rell Lafargue said his company would work to preserve “the legacy the Moelis family has built,” with an underlying goal of ensuring Lastrada’s continued success.

And in remarks of his own, Stephen Moelis (who’d served as president of music publishing, with his brother Larry working as VP of operations) described the sale as “the natural next step” for Lastrada.

“The Moelis family takes pride in the catalog of hits we were part of,” Stephen relayed, “and in the personal relationships we forged with our incredibly talented songwriters.

“Passing the creative torch to Reservoir is the natural next step to continue the work we started with our father 40 years ago, and we wish to thank Golnar Khosrowshahi, Rell Lafargue, and the entire Reservoir team as they become stewards of some of the great songs of all time,” he concluded.

With Reservoir’s Lastrada buyout (besides Warner Music’s DWA and Extravaganza catalog purchases), it’s safe to say that the IP-acquisition space is heating up.

Nevertheless, it remains to be seen precisely how many massive deals the sub-sector will deliver this year. Among other things, 2024 delivered what appeared (and appears) to be the single-largest IP investment thus far, Sony Music’s reportedly $600 million purchase of 50% of Michael Jackson’s catalog.

However, billions are already earmarked for song rights; a steady stream of IP sales is all but guaranteed for 2025, and additional gargantuan rights selloffs might come to fruition as well.

Singapore’s The Atrium@Orchard, where Temasek is headquartered. The state-owned investment firm is said to be exploring the possible purchase of SESAC. Photo Credit: Terence Ong

Closer to January’s start, reports indicated that Blackstone was exploring the possible sale of SESAC. Now, new details are emerging about the PRO’s massive price tag.

Those details entered the media spotlight in a Bloomberg report, which Singaporean outlets like The Business Times also ran. Prior to these price- and buyer-related rumblings, concrete specifics about the potential SESAC selloff were few and far between.

In short, though, Blackstone reportedly began entertaining private equity offers for SESAC after Hellman & Friedman took a majority stake in Global Music Rights (GMR) late last year. (Private equities are reportedly in talks to buy Vivid Seats as well, and Wise Music just recently sold its education division to Achieve Partners.)

Furthermore, the exact assets at hand were unclear out of the gate; SESAC Music Group’s portfolio includes Audiam and the Harry Fox Agency, to name only a couple.

But with Bloomberg claiming that Blackstone “expects to fetch $3 billion or more” for SESAC, logic suggests that the potential sale would be all-encompassing.

As things stand, the Hipgnosis owner Blackstone and the reported SESAC bidders have yet to comment publicly on the eye-watering price – the rather conspicuous media disclosure of which could, of course, be part of an effort to fuel offers and demand.

In any event, Apollo Global Management, Warburg Pincus, and Temasek Holdings are said to have expressed interest in SESAC.

Perhaps the most noteworthy of those reported bidders is Singapore’s state-owned Temasek. As mentioned, The Business Times and other Singaporean outlets promptly covered SESAC’s reported $3 billion cost (and Temasek’s reported talks with Blackstone).

Bigger picture, SESAC’s possible sale would follow New York-based New Mountain Capital’s buyout (unveiled in 2023 and formally closed last year) of Broadcast Music, Inc. (BMI).

Stated differently, private equity interest in the performance rights space is hardly confined to SESAC or the above-highlighted prospective purchasers. And the remaining U.S. PRO, ASCAP, hasn’t hesitated to emphasize as much.

Yesterday, ASCAP announced plans to distribute a total of $1 million to members “who have suffered loss or damage to their primary residence or studio, or been evacuated from their homes as a result of the LA fires.”

In the same release, the entity reiterated its status as “the only performing rights organization in the U.S. that operates on a not-for-profit basis.”

A shot captured during a Boiler Room event in Cologne, Germany. Photo Credit: Valentin Bolder

Less than one year removed from its own sale to KKR, Superstruct Entertainment has acquired dance-focused concert broadcaster Boiler Room.

The reported Boiler Room buyout just recently entered the media spotlight, after Providence Equity Partners sold Superstruct to KKR in June 2024. (On top of serving as Superstruct’s CEO, Roderik Schlosser remains Providence’s MD, per his LinkedIn profile.)

Then, October of the same year saw CVC take a minority interest in the European concert giant – with KKR remaining the majority stakeholder.

(The Wasserman stakeholder Providence and its subsidiaries aren’t abandoning crowd-based entertainment; Providence’s ATG bought Madrid-headquartered theatre business SOM Produce earlier in January.)

Meanwhile, it was only in 2021 that ticketing platform DICE scooped up London’s Boiler Room. This past summer, reports suggested that DICE was exploring a sale. But six months later, no such announcement has arrived.

In other words, especially in Europe, the live entertainment space has brought a number of ownership-related twists and turns during the past year. Now, Boiler Room’s selloff can be added to the list.

According to outlets including Pollstar, DICE has sold 15-year-old Boiler Room to Superstruct “for an undisclosed sum.” The ticketing platform is expected to continue providing related services for Boiler Room moving forward.

Elaborating on the transaction, Superstruct head Roderik Schlosser touted the “distinct cultural approach” of Boiler Room, which founder and CEO Blaise Bellville will seemingly keep on leading.

All told, Boiler Room per its website has over 8,000 performances, delivered by north of 5,000 artists across some 200 cities, in its archive. On YouTube, the relevant uploads have generated a cumulative 1.56 billion views.

Bigger picture, it remains to be seen whether DICE has strategically timed the divestment ahead of a sale. For reference, besides the multiple deals rattled off above, 2024 also saw Germany’s CTS Eventim buy See Tickets and other assets from Vivendi.

Subsequently, CTS posted double-digit Q3 2024 revenue growth as well as record nine-month revenue.

Most recently, though the announcement has largely flown under the stateside-media radar, CTS Eventim in December 2024 closed its purchase of another 17 percent of French ticketing company France Billet. With the deal’s formal wrap, CTS became the business’s majority owner.

An exterior shot of Opry Entertainment Group’s Grand Ole Opry House. Photo Credit: Antony-22

Opry Entertainment Group has jumped into the music festival space by taking a majority stake in Southern Entertainment, which has a hand in Carolina Country Music Fest and more.

The Grand Ole Opry owner, itself majority-owned by Ryman Hospitality Properties, officially disclosed the purchase today.

Founded by North Carolina-based businessmen Bob Durkin and Rob Pedlow, Charlotte-headquartered Southern Entertainment says it’s put on north of 500 live music events (including several country festivals) to date.

Chief among those owned-or-promoted happenings are Myrtle Beach’s mentioned Carolina Country Music Fest, New Jersey’s Barefoot Country Music Fest, and Charlotte’s Lovin’ Life Music Fest, to name a few.

Though the involved parties opted against disclosing the transaction’s precise financials, they did indicate that Durkin and Pedlow are poised to continue leading Southern Entertainment. And according to the two, the sale will accelerate their company’s existing expansion plans.

“Joining forces with OEG will add immediate value to our existing events and allow us to accelerate our plans to bring festivals to new markets,” weighed in Durkin and Pedlow. “We are confident our fans, the artists who play our stages and the cities where we operate will benefit from our alliance with such an iconic name in country music.”

Also in the cards is the integration of Opry Entertainment “artist development programs” into Southern’s festivals. Longer term, the teams intend to jointly create “additional artist-centered experiences in the years ahead.”

“In just 10 years,” Opry Entertainment CEO Patrick Moore said, “the Southern Entertainment team has grown their business into one of the strongest independent festival businesses in the United States. … This investment will allow us to expand our reach to a large and loyal fan base that is complementary to our current audience.”

Notwithstanding the deal and the appropriate execs’ enthusiasm, Southern Entertainment’s sale has arrived amid a clear-cut commercial downturn in the overarching festival sub-sector.

The better part of 200 festivals were canceled or otherwise failed to take place last year, for instance. And even well-entrenched players like Coachella are seemingly feeling the pinch.

Despite a quick-approaching April kickoff, the Goldenvoice happening still had second-weekend GA passes available to purchase at the time of writing.

Nevertheless, the country sub-sector looks to be riding relatively high. The single-weekend Stagecoach (likewise a Goldenvoice event) has sold through its own 2025 GA passes, and Kid Rock’s Rock the Country Festival (featuring Travis Tritt, Hank Williams Jr., Ella Langley, and more) is scheduled to arrive in 10 states starting this April.

The genre is also a major focus at pre-Super Bowl events in New Orleans, with Jelly Roll and Chris Stapleton tapped to headline Madden Bowl 2025. Diplo, for his part, is preparing to deliver a country set at Guy Fieri’s Flavortown Tailgate.

Elon Musk the TikTok owner? Chinese government officials are reportedly discussing the possible sale of the app’s U.S. operations to the billionaire. Photo Credit: Jonathan Kemper

Will TikTok sell to Elon Musk in the U.S.? The possibility is on the table, according to multiple reports surfacing ahead of the platform’s January 19th divestment deadline.

Rumblings of that comparatively seldom-discussed outcome just recently entered the media spotlight, including in a Wall Street Journal report.

As most know, absent a once-off 90-day extension from President Biden or a court order blocking the same sale deadline, TikTok will be compelled to sell or effectively shut down in the States this coming Sunday.

Unsurprisingly, TikTok and ByteDance have long pushed back against the prospect of a sale. But as their multifaceted opposition (encompassing public-opinion campaigns, legal actions, and more) has failed to halt the ban law, a divestment from TikTok in the U.S. is perhaps closer than ever to becoming reality.

Of course, as the Supreme Court must still rule on whether this law can stand – justices look to be leaning towards leaving the measure in place, and a decision might arrive tomorrow – ByteDance and TikTok can’t very well come out and confirm as much at the moment.

Nevertheless, the companies have already received at least one formal bid, and Chinese government officials are reportedly weighing selling the video-sharing platform’s U.S. operations to the “trusted” Musk.

That’s according to the Journal, which specifically identified unnamed officials’ preliminary talks about allowing for TikTok’s sale to the billionaire. (Tesla operates a factory in Shanghai, and the paper further reiterated Musk’s seemingly positive relationship with the nation’s leadership.)

It may be a given that the Chinese government would need to approve any deal for the app, but the point is particularly relevant because Beijing actually owns a piece of ByteDance.

The Journal also acknowledged that it hadn’t determined “whether the Chinese officials had presented the Musk idea to top leadership.”

Following that detail to its logical conclusion, the X owner Musk, who doesn’t appear to have commented publicly on the matter, presumably has yet to explore related discussions with the “top leadership.”

However, the option could make strategic sense for Musk, whose mentioned social platform shut down Vine back in 2017.

On the other side of the coin, as The People’s Bid for TikTok partner Kevin O’Leary sees it, Musk will probably forgo pursuing the expensive deal due to the accompanying regulatory scrutiny.

“I think Elon Musk buying TikTok is unlikely,” O’Leary weighed in on X. “The regulators hate monopolies, and Trump’s not letting go of this golden bargaining chip. Musk is a brilliant entrepreneur, no question, but even with his track record, this one’s a long shot.”

Admittedly, the veteran businessman, whose People’s Bid has submitted a TikTok buyout offer to ByteDance, isn’t exactly impartial here. But regulatory considerations are worth keeping in mind – as is TikTok’s initial opposition to the reported Musk sale plan.

To be sure, a rep for the company promptly described the rumor as “pure fiction,” per Fortune. Meanwhile, ban or no ban, TikTok is continuing to spearhead promotional initiatives in the U.S. and especially in different nations.

An investor group has officially submitted an offer to buy TikTok in the U.S. Photo Credit: Visuals

Ahead of a quick-approaching divestment deadline for TikTok in the U.S., an investor group has submitted a formal buyout offer.

That proposal has arrived courtesy of Project Liberty founder Frank McCourt’s The People’s Bid for TikTok, which disclosed the offer in a release.

Per Kevin O’Leary-supported People’s Bid, its varied backers include “major” private equities, various family offices, and a number of “high net worth individuals,” with “debt financing from one of the largest banks in the United States” to boot.

And while the entity opted against disclosing the precise size and terms of its offer, reports previously indicated that People’s Bid had secured a cumulative $20 billion in capital commitments.

“We’ve put forward a proposal to ByteDance to realize Project Liberty’s vision for a reimagined TikTok – one built on an American-made tech stack that puts people first,” weighed in Frank McCourt.

“By keeping the platform alive without relying on the current TikTok algorithm and avoiding a ban, millions of Americans can continue to enjoy the platform. We look forward to working with ByteDance, President-elect Trump, and the incoming administration to get this deal done,” the former Dodgers owner concluded.

Of course, time will tell whether the deal does, in fact, close. ByteDance has long been adamant that a sale isn’t in the cards – with TikTok’s much-touted algorithm a sizable hurdle.

However, on top of McCourt’s comments regarding “the current TikTok algorithm,” O’Leary, who’s still making the media rounds in support of the bid, last week emphasized that the sought transaction wouldn’t encompass the algorithm.

It remains to be seen whether that point and the imminent TikTok forced-sale cutoff will prompt ByteDance to warm up to the possibility of selling.

Keeping the focus on what we do know, though, the Supreme Court doesn’t appear too sympathetic to TikTok’s arguments against the underlying sell-or-shutdown law.

Similarly, it’s unclear whether President Biden will grant a once-off 90-day extension (which is an option under the relevant law) to TikTok’s January 19th ban deadline. Meanwhile, with an administration change set for January 20th, it’s possible that President-elect Trump will revive the app.

Stated differently, we should soon have answers to several key questions about TikTok’s U.S. future – with competitors including but not limited to the revamped Triller already maneuvering to attract users should the ban move forward.

As for how the (betting) market expects the unprecedented episode to play out, at the time of writing, Kalshi odds were pointing to a 68% chance that the U.S. “bans TikTok before May.”

Much higher than at January’s beginning, this percentage looks to pertain to the app’s operating continuously in its current form – not necessarily the potential for the platform’s revival under a non-ByteDance owner.

On the other hand, when asked about the chance of the TikTok ban going through, Evercore ISI senior managing director Mark Mahaney recently told Bloomberg Technology that “it’s less than [a] 50% chance, maybe it’s 20-25%.”

Wise Music Group has sold its education division to Achieve Partners. Photo Credit: Soundtrap

It turns out private equities’ music industry interest also extends to the learning side, as Achieve Partners has officially purchased Wise Music Group’s digital education division.

New York City-based Achieve Partners formally revealed that buyout today. At the top level, the private equity says it’s striving “to close America’s skills gap and secure the future of work.”

And within this broad operational framework, Achieve is also working “to build a comprehensive education software platform for performing and visual arts.” Enter the agreement with Wise Music, which is specifically parting with its MusicFirst, Charanga, Rising Software, Focus on Sound, and O-Generator assets.

As noted, each of those units specializes in music learning in one form or another. Just for a bit of additional context, though, MusicFirst creates various educational resources for use in the classroom. And Charanga’s similar music-lessons platform is said to be used by north of 70,000 teachers.

Meanwhile, Rising touts itself as today’s “most powerful ear training & music theory software,” with Focus on Sound specializing in “multimedia learning materials” as O-Generator zeroes in on composition, per the appropriate websites.

Of course, time will reveal Achieve Partners’ long-term plans for the holdings amid the above-described push to develop a comprehensive educational offering. Closer to the present, however, the private equity intends to keep on “accelerating the development of all five brands.”

That refers to “expanding their reach in ways that advance the role of technology in education while also prioritizing the unique needs of the music education community,” per the purchaser.

As for Wise Music, execs painted the selloff as a long-expected move designed to simplify operations and allow for a focus solely on publishing.

“This milestone represents the culmination of years of strategic transformation for Wise Music Group,” weighed in CEO Tomas Wise. “By entrusting our education businesses to Achieve Partners, we are confident that these brands will flourish under their stewardship.

“At the same time, we can now fully dedicate ourselves to our core mission of music publishing, reinforcing our position as a leading independent in the industry,” concluded the longtime Wise Music head, whose company is said to own or control over 500,000 copyrights.

Achieve isn’t alone in pursuing results in the music education space, with Conduction and Moombix having pulled down related raises during the final few months of 2024. Also during 2024, Billie Eilish partnered with Helsinki-headquartered Yousician, and Sony Music made more than 60 tracks available in Duolingo music lessons.

Blackstone and others have taken a majority stake in Citrin Cooperman. Photo Credit: Sarah Elizabeth

Blackstone and others have dropped a reported $2 billion on a majority stake in Citrin Cooperman, a prominent player in music IP valuations.

That multibillion-dollar buyout just recently entered the media spotlight, against the backdrop of continued investment-firm interest in music assets. For New Mountain Capital, said interest fueled the purchase of performance rights organization BMI last year.

Evidently, though, Citrin Cooperman isn’t part of the long-term plan for New Mountain, which also possesses the majority of Grant Thornton. According to the newly unveiled deal’s formal announcement, Blackstone specifically made a “significant investment” in Citrin.

But the Financial Times attached the initially mentioned $2 billion price tag – and majority-ownership details – to the transaction. All told, the Blackstone-led investment group will reportedly obtain over two-thirds of Citrin, with Blackstone’s own interest remaining beneath 50%.

The latter move reportedly aims to ensure regulatory approval and avoid independence-related scrutiny on the audit side. Overall, 46-year-old Citrin Cooperman is said to have north of 15,000 global clients across its tax, advisory, and accounting services.

In the music space, however, the accounting firm is best known for its role in assigning valuations to song rights.

That entry into the lucrative sub-sector – which is delivering fresh deals despite the billions already dropped on music IP – took definitive shape with Citrin’s January 2022 acquisition of Massarsky Consulting.

At that point, Massarsky itself was already appraising hundreds of catalogs per year; the post-purchase Citrin Cooperman valued all manner of works for Hipgnosis Songs Fund as well.

Without diving too far into the involved subject, a great deal of controversy accompanied Massarsky/Citrin’s valuation methodology at HSF over the years. Like so many components of the ultra-quick-moving industry, this controversy, having resurfaced amid a takeover battle last year, is a distant memory today.

Nevertheless, the Citrin buyout is something of a full-circle moment for Blackstone, which only closed its $1.6 billion acquisition of HSF (following several twists and turns) in late July 2024.

Hipgnosis then rolled out a nearly $1.5 billion ABS in November 2024, indicating as well that a portion of the capital would bankroll additional song-rights deals yet.

Bearing the point in mind, Citrin CEO Alan Badey in a statement described Blackstone’s investment as one component of his company’s “next chapter of growth.”

“Blackstone will help us make additional investments in expanded service offerings and technology as we deliver on our continued commitment to best-in-class firm culture and providing an exceptional client experience,” proceeded the more than two-decade Citrin exec Badey.

In the bigger picture, private equities aren’t just zeroing in on song rights in the multifaceted music sector. Vivid Seats reportedly has prospective purchasers, for instance, and Blackstone is reportedly fielding offers for SESAC to boot.

SOM Produce theatre Nuevo Teatro Alcalá in Madrid. Photo Credit: MaGrc

Providence Equity Partners’ ATG Entertainment has fired off another acquisition, this time by scooping up Madrid-headquartered theatre business SOM Produce.

Reps for London-based ATG (formerly the Ambassador Theatre Group) reached out today with word of the SOM Produce acquisition, less than one month following the purchase of touring Broadway presenter Celebrity Attractions.

Founded in 1983 and operating out of Tulsa, the latter company produces shows throughout the Southwest as well as the Midwest.

Evidently, though, ATG’s expansion ambitions aren’t confined to the States. The company opted against publicly disclosing the financials behind the SOM Produce deal, but it did tout the newly purchased business’s reach.

All told, SOM is said to sell north of 750,000 tickets annually to its plays, among them Spanish-language productions of West Side Story, Mamma Mia!, and the forthcoming Wicked.

On the venue side, SOM manages five Madrid theatres: Nuevo Teatro Alcalá, Teatro Rialto, Teatro Nuevo Apolo, Teatro Calderón, and Teatro Amaya. Those theatres house a combined 5,200 or so seats, according to the involved parties.

Per the same parties, collaborations are in the cards for ATG and SOM in light of the just-finalized buyout; Madrid, SOM CEO Marcos Cámara elaborated, is one of the largest theatre markets today.

“Madrid only follows the West End and Broadway in terms of global theatre demand as the appetite for theatre and live performances continues to grow throughout Spain,” Cámara said in part.

“This partnership with ATG will help us capture significant opportunities to satisfy this increased demand going forward,” the more than 11-year SOM head continued.

And in remarks of his own, ATG CEO Ted Stimpson described the deal as “an exciting opportunity to further build ATG’s European operations.” Meanwhile, Lisbeth Barron, whose Barron International Group acted as SOM’s exclusive financial advisor, pointed to material theatre growth in Germany, Australia, and South Korea when speaking with DMN.

“After New York, London, and Madrid, the next market that captures audience share is Hamburg, along with selected other cities throughout Germany,” Barron said to Digital Music News. “Sydney, Seoul, and other key cities in Asia-Pacific are also demonstrating strong demand from the consumer side for well-known IP brands that travel well and can be adapted to local markets.”

Providence Equity isn’t alone in betting on theatre – and ATG in particular. Blackstone last year quietly took a minority stake in ATG, which operates close to 70 venues.

Also in 2024, Providence went ahead and cashed out of Superstruct Entertainment, selling the European live-music giant to KKR for a reported $1.4 billion. The owner and operator of some 80 festivals, Superstruct scored a subsequent investment from Luxembourg’s CVC in late October 2024.

In general – and despite the continued sales success of several mega-tours – the festival space isn’t riding high at present, to put it mildly. Organizers nixed over 170 festivals last year, DMN Pro noted, and even decidedly well-established players are grappling with sales slowdowns.

An investor group has reportedly secured over $20 billion in capital commitments to buy TikTok, though ByteDance is adamant that a sale isn’t in the cards. Photo Credit: Jonathan Kemper

Will a last-minute sale save TikTok from shutting down in the U.S.? Former Los Angeles Dodgers owner Frank McCourt is moving forward with a reportedly $20 billion bid to purchase the ByteDance-owned app.

The Project Liberty founder McCourt confirmed as much yesterday, in a formal announcement message. We briefly covered the development when providing an update on the platform’s Supreme Court challenge to the relevant law.

Without retreading too much ground there, that law is compelling ByteDance to cash out of TikTok or effectively shut down the platform by January 19th in the States. A high-stakes oral argument before the Supreme Court is set for Friday, and Beijing-based ByteDance is adamant that it won’t sell under any circumstances.

This clear-cut declaration hasn’t stopped investors – including but certainly not limited to the initially mentioned Frank McCourt – from lining up to buy the app’s stateside operation.

We’ve charted the purchase interest from the get-go, and McCourt’s exploring a deal specifically via a group called The People’s Bid for TikTok. These details aren’t new, but the addition of businessman Kevin O’Leary to the effort only emerged yesterday.

O’Leary himself first expressed interest in buying TikTok closer to the beginning of 2024. And as part of the just-revealed tie-up, the 70-year-old has folded his TikTok-buyout crowdfunding platform, WonderfulTikTok.com, into People’s Bid.

All told, the latter has secured north of $20 billion in capital commitments from investors, according to Reuters’ description of McCourt’s comments. Per the same outlet, the billionaire expects the Supreme Court to uphold the TikTok ban law and is anticipating more earnest sales discussions with ByteDance after the fact.

Meanwhile, O’Leary has been in contact with President-elect Trump (who’s urged the Supreme Court to pause the ban law until he assumes office). And in a recent X post, the Montreal native O’Leary emphasized that he and McCourt wouldn’t insist on the inclusion of much-coveted algorithms.

In short, ByteDance (part of which belongs to the Chinese government) has long considered the algorithms a key component of TikTok – and, in turn, a major roadblock to any potential sale.

“What Frank McCourt and I wanted to eliminate is the misconception that we can’t sell it because no one will buy it without the algorithm,” O’Leary wrote in part. “NOT true. We’ll buy it without the algorithm. We don’t need them. We’ll do it ourselves and make TikTok wonderful again.”

As to where things go from here, all eyes are now on TikTok’s previously highlighted January 10th oral argument before the Supreme Court.

Also worth bearing in mind is that President Biden has until January 19th to decide whether to extend the forced-sale deadline by up to 90 days. Lastly, regarding what the post-TikTok landscape may look like, many on social media are already discussing the possibility of using VPNs to access the platform.

And as the ban law zeroes in particularly on the app’s digital-marketplace distribution and updates, Reuters “experts” believe it’s “likely” that existing users would (at least for a time) have post-ban access. Needless to say, however, there isn’t exactly a straightforward playbook for the unprecedented situation, and the video-sharing giant could only survive for so long without releasing updates.

Photo Credit: Renato Tanchis, Raffaele Razzini, Pico Cibelli, Roberto Zanetti, Francesco Bontempi, Santiago Menendez Pidal, Luca Gentili, Filippo Pardini

Warner Music Group secures a deal to acquire DWA Records’ extensive catalog, as well as that of Extravaganza, DWA’s publishing business.

Warner Music Italy and Warner Chappell Music Italy announce a deal to acquire the extensive catalog of DWA Records, a leading independent Italo Disco label active since 1989. The deal also covers the catalog of Extravaganza, DWA’s music publishing business.

Founded in 1989 by singer-songwriters and producers Roberto Zanetti and Francesco Bontempi, the DWA and Extravaganza catalog includes over 250 masters. These include iconic tracks like “The Rhythm of the Night,” performed by Corona and written by Bontempi; “Happy” and “Uh La La” performed by Alexia; and “Baila,” performed by Zucchero and written by Zanetti.

Italo Disco originated in Italy in the late 1970s and exploded in popularity during the 1980s. Drawing on elements of “hi-NRG” and Euro disco, it was marked by the use of electronic drums and synthesizers, with lyrics often sung in English. While it faded as a distinct genre in the late 1990s, its influence can still be felt in Eurobeat, Italo dance, and Italo house music.

Zanetti, known by his stage name Savage and his producer alias Robyx, burst onto the music scene in the ‘70s as part of groups including Santarosa and Taxi. His hits included “A Love Again,” “Goodbye,” “I Just Died In Your Arms,” “I’m Losing You,” “Only You,” and “Radio.” In the ‘90s, he focused on his producing career, recording with artists like Alexia, Corona, Double You, Ice MC, and Zuchero. In recent years, he has returned to recording and performing live, in addition to his career as a producer.

Francesco Bontempi, also known by his stage name Lee Marrow, began his music career in the ‘70s as a drummer, before going on to be a DJ in Italian clubs. He signed a record deal in the ‘80s, with hits like “Do You Want Me,” “Pain,” “Shanghai,” and “To Go Crazy.”

“Italo Disco is the lifeblood of the Italian music scene, and DWA has been at the heart of the scene for more than three decades. We’re so pleased that Roberto and Francesco have placed their faith in us as the custodians of their catalog, and look forward to repaying their trust in the years ahead. We’d like to thank our CFOs, Raffaele Razzini and Luca Gentili, for their support and hard work in getting this deal over the line,” said Pico Cibelli, President, Warner Music Italy, and Santiago Menéndez-Pidal, President, Southern Europe, Warner Chappell Music.

“Italo Disco is a genre that’s always cross borders and DWA’s catalog contains some of its biggest hits,” adds Simon Robson, President, EMEA, Recorded Music, WMG. “Our people around the world are already collaborating on exciting plans to promote this fantastic repertoire in new and innovative ways.”

Kevin Gore, President, Global Catalog, Recorded Music, comments, “We’re committed to expanding our catalog through strategic acquisitions and are always looking at opportunities outside of Anglo markets. We’re proud to be managing DWA’s catalog and will leverage our teams around the world to create new connections for the artists and their music to be discovered and continue to be loved.”

“We’ve made a significant investment for an amazing catalog,” conclude Guy Moot and Carianne Marshall, Co-Chairs of Warner Chappell Music. “Our global team is now committed to leveraging opportunities to take this incredible songbook to new heights and helping ensure a new generation of fans worldwide get to connect to this life-affirming music.”

A Vivid Seats sale could be in the cards for 2025, as private equities are reportedly exploring a possible purchase. Photo Credit: Pablo Heimplatz

Another day, another possible music industry sale – this time from Vivid Seats (NASDAQ: SEAT), which is reportedly receiving takeover offers amid continued investor interest in the live and ticketing space.

Word of that rumored purchase just recently entered the media spotlight, moments after reports pointed to the potential buyout of Blackstone’s SESAC. As with rumblings of the PRO’s sale, it remains to be seen whether Vivid Seats, having arrived on the public market via a 2021 SPAC merger, will in fact sell.

But according to Bloomberg, private equities have made clear their “takeover interest,” and Vivid Seats execs are said to be exploring the corresponding talks. At present, Vivid Seats stock is hovering around $4.60 per share – up about 36% across the past month but still down about 28% from the same point in 2024.

Stated differently, SEAT’s bump appears to be a response to the prospect of a sale as opposed to unbridled investor enthusiasm. Previously, Vivid Seats reported $186.61 million in Q3 2024 revenue, down slightly YoY and more than that on a quarterly basis.

Within the sum, concert-ticket marketplace revenue slipped 22% YoY to $67.70 million, though theater-ticket revenue nearly doubled at $28.71 million, the appropriate report shows.

Keeping the focus on investors’ current SEAT stakes, Barclays is said to have increased its holding by north of 350% during 2024’s third quarter, to 125,163 shares. And Geode Capital Management reportedly expanded its own Vivid Seats position by 18.9% to 1.98 million shares in the same quarter.

In the bigger picture, the industry – and especially the live and ticketing sub-sector – hardly lacks buyout interest.

It’d perhaps be premature to use the word “bubble,” but multiple players are certainly eager to get in on the concert-segment action despite Live Nation-owned Ticketmaster’s well-entrenched position.

To be sure, the latter half of 2024 delivered sizable raises for Ticketmaster competitors including Seat Unique (a $19.1 million extended Series A) and TickPick (a $250 million growth investment), to name a couple examples.

Meanwhile, StubHub this past summer explored and ultimately shelved plans for an astonishing $16.5 billion IPO – though the long-anticipated listing is presumably forthcoming. Plus, July reports suggested that ticketing platform Dice was exploring a sale valuing it in the hundreds of millions of dollars, though no such transaction has been formally announced.

Lastly, the live and ticketing boom, having curiously coincided with signs of a possible slowdown, isn’t confined to the States. After scooping up Vivendi’s See Tickets, Germany-based CTS Eventim posted record nine-month revenue last year, with double-digit Q3 growth to boot.

Will a SESAC sale arrive during 2025? Multiple private equities are reportedly inquiring about a potential purchase. Photo Credit: SESAC

Is a SESAC sale in the cards for 2025? Possibly, as Blackstone is reportedly fielding private equity offers for the PRO.

That potential sale just recently entered the media spotlight, following New Mountain Capital’s purchase of BMI last year. Closer to 2024’s conclusion, Hellman & Friedman reportedly moved to scoop up a majority interest in Irving Azoff’s Global Music Rights (GMR) at a $3.3 billion valuation.

At least as described by Billboard, the GMR investment set the stage for multiple private equities to contact Blackstone exploring a deal for SESAC. To be sure, these prospective purchasers include several parties that unsuccessfully maneuvered to score a stake in GMR, per the mentioned source.

Furthermore, Blackstone is reportedly being selective in shopping the PRO – seemingly discussing terms with the same private equities that reached out as opposed to contacting others directly.

Of course, time will tell whether a sale comes to fruition, which price tag the transaction carries, and precisely which assets are included.

SESAC owns Audiam, the Harry Fox Agency, AudioSalad, and HAAWK, to name a few. Meanwhile, Blackstone in 2021 purchased eOne Music, later rebanded as MNRK and including Audio Network, from Hasbro for $385 million.

(MNRK president and CEO Chris Taylor abruptly resigned towards the end of June 2024, taking the company’s artist management division with him.)

With the benefit of hindsight and today’s rumblings of a SESAC sale, we can see that the PRO’s April 2024 expansion of a comprehensive “Music Services Division” probably wasn’t a coincidence. Billed as a one-stop licensing, admin, and royalty-collection hub, said division houses most of the above-noted subsidiaries as well as Rumblefish and more.

Judging by the continued investments in song rights and much else, there’s continued institutional enthusiasm about music assets’ long-term trajectory.

Stated bluntly, if BMI can find a buyer while being subject to a far-reaching consent decree, SESAC, which isn’t subject to a decree, can probably do the same if so inclined. (Likewise bound to a consent decree, ASCAP hasn’t hesitated to tout its status as the lone non-profit PRO in the wake of BMI’s sale.)

As things stand, the major labels and others are continuing to fire off acquisitions as well; Warner Music last year brought on an exec specifically to hunt for buyout opportunities. And the [PIAS] parent Universal Music in December announced the purchase (via Virgin) of Downtown Music.

Finally, though there’s something to be said for music assets’ aforementioned long-term value, it’s also worth highlighting the impact of across-the-board inflation. Against the backdrop of rising prices – and in an industry where it’s particularly difficult for new businesses to take on well-entrenched players – different companies yet are reportedly exploring decidedly massive sales of their own.

Bangor, Maine, the broadcast area of Stephen King radio station WKIT, which has found a new owner. Photo Credit: Vasiliymeshko

Earlier in December, reports indicated that multiple Stephen King-owned radio stations would shut down at 2024’s end. Now, one of these Maine-based stations has reportedly been saved thanks to a last-minute purchase.

Regional outlets just recently shed light on that eleventh-hour sale, about three weeks after the Portland, Maine-born author revealed plans to cease operating the stations in question.

77-year-old King has long owned those stations (WKIT 100.3 FM, WZLO 620 AM, and WZON 103.1 FM), but in a statement about the shutdowns expressed a desire to get his business affairs in better order.

Meanwhile, general manager Ken Wood acknowledged the stations’ sizable cumulative losses – with King having absorbed the multimillion-dollar hit over the years.

Nevertheless, WKIT 100.3 FM (described as the most popular of the three stations) has found a buyer days before its expected closure and is set to continue broadcasting as usual, per Maine’s WABI 5.

According to the same outlet and comments from WKIT on-air talent, that buyer is Bangor-based businessman Jeff Solari, who, along with his business partner Greg Hawes, is said to have finalized the deal.

As laid out on his LinkedIn profile, Solari has considerable experience in media as well as radio specifically. Plus, Solari serves as president of Rock Lobster Media, billed as the owner of Sports Chowdah, “Maine’s only free, weekly sports email newsletter.”

Additionally, Rock Lobster “is acquiring a popular local Bangor-Brewer restaurant,” its LinkedIn description shows, “with more to come.”

In other words, the purchase, the financials of which haven’t been publicly revealed, appears to make sense on multiple levels for Solari. At the time of writing, King himself didn’t seem to have addressed WKIT’s new ownership on social media, and it looks as though WZLO and WZON are still set to go dark in a matter of days.

However, the positive ending for WKIT arrives against the backdrop of continued cuts across radio generally, referring to both terrestrial and satellite.

Sweeping iHeartMedia layoffs last month affected team members at stations including Los Angeles’ KFI 640, for instance. Also in November, Cumulus Media moved forward with layoffs of its own.

And on the satellite side, a major strategic realignment is underway at SiriusXM, which posted lackluster Q3 financials in November and has suffered a material stock-price slip since 2024’s beginning.

AIM CEO Gee Davy, who’s called out UMG’s Downtown Music purchase as ‘more concerning news for the global independent music community.’ Photo Credit: AIM

IMPALA, IMPF, and AIM are protesting Universal Music’s newly announced Downtown acquisition, which they say threatens the indie sector and competition generally.

Those organizations reached out to DMN with firmly worded comments about the $775 million deal in question. Unveiled yesterday and expected to wrap (pending regulatory approval) sometime around the middle of 2025, the purchase is being executed specifically via Virgin Music Group.

However, the play represents just the latest in a line of consolidation-minded moves from the overarching Universal Music as well as the other majors. It was only earlier in 2024 that UMG revealed the purchase of the remainder of [PIAS], for instance.

And while it’s something of a distant memory given the year’s decidedly quick-moving news cycle, Warner Music’s exploration of a Believe buyout only ended sans offer this past April. Subsequently, the major added a Goldman vet to “supercharge” its investments in third-party operations.

It’s against this backdrop that the initially mentioned organizations are criticizing the Universal Music-Downtown deal.

Diving directly into the relevant remarks, Independent Music Companies Association (IMPALA) executive chair Helen Smith decried the acquisition as “another land grab” from the Netherlands’ UMG.

“This is another land grab,” Smith communicated in part. “We expect competition authorities in key jurisdictions to carry out thorough investigations and block these deals. The time has come for cutting UMG’s market position back to what was already set. This is a huge market share grab by UMG and seriously reduces independent routes to market. We look to the new European commission to set the standard internationally.”

In additional comments, Smith emphasized calls for regulatory scrutiny not solely into the [PIAS] and Downtown purchases themselves, but also into “how it is possible for UMG to gain more market share after it was already considered too big.”

Next, the Independent Music Publishers International Forum (IMPF), which is also headquartered in Brussels, drove home the UMG-Downtown consolidation’s impact particularly on the publishing side.

“IMPF is both saddened and concerned by news of a potential sale of Downtown Music to Universal-owned Virgin Music Group,” IMPF weighed in. “Downtown Music Publishing and Sheer Publishing Africa are valued members of the independent music publishing community and indeed of IMPF. Furthermore, many of Downtown Music’s other operations, notably Songtrust, are partners to independent publishers around the world.

“While independent music publishing continues to grow in value internationally,” the organization continued, “should this sale go ahead, it will mean further market concentration, which in turn will damage the diversity of the music industry ecosystem, harm competition and ultimately reduce choice for songwriters and publishers alike.”

Finally, Gee Davy, CEO of London’s Association of Independent Music (AIM), bluntly deemed the purchase one component of “a continuing trend towards over-consolidation.”

“The potential sale of Downtown Music – including FUGA, a longstanding favourite with independents – to Universal’s Virgin Music Group is more concerning news for the global independent music community,” Davy indicated. “Following on from the recent PIAS/Integral acquisition, it plays into a continuing trend towards over-consolidation and reduction of independent routes to market.

“It is vital to uphold a true choice of partners for artists and labels and ensure that negotiating power does not become unbalanced. Only in this way can homegrown artists and businesses access fair deals, investment and growth,” the AIM head concluded.

Photo Credit: Phil Tragen

ATG Entertainment has acquired touring Broadway presenter Celebrity Attractions to provide the support and resources needed for continued success.

ATG Entertainment (formerly the Ambassador Theatre Group), has acquired touring Broadway presenter Celebrity Attractions, which has operated in multiple markets for over 40 years through their offices in Tulsa and Little Rock.

The acquisition will ensure that Celebrity Attractions will have the support and resources needed for continued success in the ever-changing touring entertainment landscape. Local operations will continue in both offices currently overseeing a Broadway series in Tulsa, OK, Little Rock, AR; and in Springfield, MO.

Founded in 1983 by Larry and Kay Payton, Celebrity Attractions quickly became a thriving presenter of live entertainment, building a reputation for prioritizing relationships and service. The company has grown to be a preferred presenter for first-run Broadway tours with strong subscription bases and tremendous community support.

As a founding member of the Independent Presenters’ Network (IPN), the company has invested in numerous Tony Award-winning productions that recently include “Moulin Rouge: The Musical,” and “The Outsiders.” In addition to presenting and producing, Celebrity Attractions participates in the Jimmy Awards with two regional awards programs, the Discovery Awards in Tulsa, OK, and the Broadway Bound Awards in Little Rock, AR, and is an active member of the Broadway League.

“We are thrilled about our next chapter, knowing that this new relationship with ATGE will open a world of growth and possibilities,” said Kristin Dotson, CEO of Celebrity Attractions. “The staff at Celebrity Attractions will continue our trademark customer service and community partnerships, carrying on the legacy of the Payton family with the amazing team at ATGE.”

“Larry Payton was a pioneer in the touring industry, creating subscription series from their inception that have brought the best of Broadway to multiple cities for decades. The longevity of Celebrity Attractions is a testament to the great care and consideration Larry and the Payton family put into the business,” added Kristin Caskey, ATGE’s Chief Content Officer, North America.

“We at ATG Entertainment feel honored and privileged to carry forward that business with Kristin Dotson and the Celebrity Attractions staff, and will continue to honor the tremendous contributions of Larry and Kay.”

Lisbeth R. Barron and the team at Barron International Group served as financial advisor to ATGE on the transaction, while Foley & Lardner, LLP served as their legal advisor. Eller & Detrich acted as Celebrity Attractions’ legal advisor.

Photo Credit: Downtown Music Holdings

Virgin Music Group, a division of Universal Music Group, has announced a definitive agreement to acquire Downtown Music Holdings for $775 million. The deal, expected to close in the second half of 2025, will bring together two leading services and technology providers for independent labels, publishers, and music IP owners, while dramatically expanding UMG’s involvement in the indie space.

The acquisition, officially disclosed this (Monday) morning, will enable Virgin Music Group to expand its global footprint and enhance its offerings for independent artists and labels. The combined company will offer a far broader suite of services, including distribution, marketing, rights management, and royalty collection.

The deal follows months of rumblings of a possible sale, with Downtown reportedly consulting with private equity firms in July.

Suddenly, Universal Music Group is a much bigger player in the burgeoning indie space. Once finalized, UMG will enjoy an expanded footprint across numerous tiers of independent distribution (for both artists and labels), not to mention an array of indie-focused monetization and rights management competencies.

Downtown, founded in 2007, has grown into a diversified music services company with divisions spanning artist and label services, distribution, royalty and financial services, and music publishing. Thanks to a string of aggressive acquisitions and expansions over the years, Downtown’s portfolio now includes CD Baby, Soundrop, Curve, FUGA, Songtrust, Found.ee, Sheer Publishing Africa, and homegrown neighboring rights, studio, and artist and label services divisions.

Downtown currently manages more than 50 million music assets from virtually every country worldwide. It serves over 5,000 business clients and 4 million creators across 145 countries, according to stats shared by the company with Digital Music News.

“Justin Kalifowitz, Andrew Bergman, and Pieter Van Rijn have built Downtown Music into one of the most diversified and respected operations in the world,” said JT Myers, Co-CEO of Virgin Music Group.  “This combination enables us to expand on the Downtown legacy and offer the independent music community a dynamic and innovative global infrastructure both in terms of service offering and territorial footprint, and we look forward to working with the Downtown team to serve independent entrepreneurs, artists, and creators with an even broader portfolio of services.”

Justin Kalifowitz, Founder of Downtown Music Holdings, also expressed enthusiasm about the deal, stating, “This is a tremendous recognition of the importance and vitality of independent music, and the value that our company brings to its clients every day.”

Indeed, the deal is happening alongside a growth spurt within the independent music sector that is cramping the market share of major label artist releases. That has prompted a number of strategic changes from the major labels, with acquisitions another weapon to exert more influence in the space.

That said, Downtown Music isn’t focused on music IP ownership — at least not anymore.

Back in 2021, Downtown offloaded a catalog of roughly 145,000 songs to Concord in a deal valued north of $300 million. The decision followed Downtown’s Q4 2020 “strategic review of its business interests,” which involved shifting away from IP ownership in favor of services and other core competencies.

After the deal, Downtown used the proceeds to expand Downtown Music Services, part of a broader effort to focus “exclusively on the fast-growing music services sector to support the extraordinary growth of the independent music economy.”

It may be premature to consider the post-acquisition changes that will happen in 2025. But it’s plausible that Virgin will leave many Downtown sub-divisions intact, in particular CD Baby and FUGA. Both are well-known and established within their distribution niches, with strong brand identities among artists and labels.

Nat Pastor, Co-CEO of Virgin Music Group, emphasized the company’s commitment to supporting independent artists and labels, stating, “This is an investment into the global independent music ecosystem and a commitment to nurture current and future creators and entrepreneurs with world-class support.”

The two companies will continue to operate independently until the deal closes, pending regulatory approvals. Goldman Sachs and Skadden, Arps, Slate, Meagher & Flom advised Downtown Music on the transaction, while Kirkland & Ellis and Freshfields advised Virgin Music Group.

Enhanced Music, part of which belongs to Tritonal members Chad Cisneros and David Reed (pictured), has sold a 50% interest to Create Music Group. Photo Credit: LaetitiaX0

Six months after scoring a $165 million investment and doubling down on acquisition plans, Create Music Group has purchased a 50% stake in dance label and publisher Enhanced Music.

Flexpoint Ford-backed Create Music just recently disclosed its investment in Enhanced Music, which is based in London and says it’s home to “some of contemporary dance music’s most loved releases.”

Those releases have come from Matt Fax, Blonde Maze, Noise Zoo, and an array of others, according to Enhanced, which Will Holland founded about 17 years ago. Also operating genre-specific imprints like Enhanced Chill and Enhanced Progressive, Enhanced is said to possess compositional interests in “thousands of cuts” to boot.

Said cuts include works recorded by The Chainsmokers, Wiz Khalifa, Tiësto, and more, the involved parties communicated.

Unsurprisingly, these same parties opted against disclosing the precise financials behind their deal. However, they did indicate that Holland will keep on leading Enhanced as Create Music Group CEO Jonathan Strauss and SVP of global corporate development Eric Nguyen join the dance label’s board.

Addressing the transaction, Create Music VP of business development Adam Shomer touched on the continued commercial growth of Enhanced and dance itself, which has drawn a number of investments on the year.

“Will is a talented founder,” the NiftyTunes CEO Shomer weighed in, “and we are excited to partner with him to help accelerate Enhanced’s trajectory as a home for premier dance artists to grow and flourish.

“Enhanced is the perfect partner for CMG not only due [to] its consistent growth, but also the genre and one-stop rights synergies that fit perfectly within our strategic model,” concluded Shomer, whose company last month acquired UK label Ostereo.

All told, the Music for Pets owner Create is said to have been valued at $1 billion under the initially mentioned $165 million raise. Additionally, the nearly decade-old business now has more than 400 employees globally, per higher-ups.

Regarding the above-highlighted dance investments closed during 2024, BMG kicked off the year by taking interests in multiple Eurodance catalogs. Believe, for its part, bought 25% of Romania-based Global Records over the summer – and emphasized a not-so-subtle goal of “building a global leader in dance music.”

Plus, Armada Music’s dance-focused investment fund, BEAT, scooped up Amsterdam’s Cloud 9 Music (the publisher, that is; Warner Music Group went on to acquire the namesake label) in April before securing stakes in several well-known dance works the following month, to name a couple examples.

Photo Credit: Concrete Playground

Vinyl Group has announced it has executed a Head of Agreement to acquire Concrete Playground—a digital city guide to curate events in Sydney, Melbourne, Brisbane, Auckland, and Wellington.

The agreement is subject to entering into a Share Sale Agreement for a total consideration of $5 million, comprised of $3.5 million in cash and $1.5 million in scrip. The Concrete Playground platform complements The Brag Media’s go-to-market strategy by tapping into a similar agency network, yet serving a distinct set of clients and briefs.

Under the terms of the HoA, Vinyl Group would acquire 100% of the issued capital in Concrete Playground in exchange for $3.5 million in cash and $1.5 million shares in accordance with the terms of a Share Sale Agreement to be entered into by the parties. The number of consideration shares to be issues will be calculated based on the 15 day volume weighted average price of Vinyl Group shares on the ASX for the period immediately preceding the HoA execution date.

This would result in the issue of 12,676,413 ordinary shares at a price of $0.11833 per share. These shares will be subject to a 12-month escrow from the date of issue. Out of the $3.5 million cash consideration, $300,000 will be deposited into an escrow account as security for claims under the Share Sale Agreement for 12 months from the completion date.

Upon completion, Concrete Playground’s Founder & CEO, Rich Fogarty, will depart the business to pursue new opportunities. Rich will work with CP between now and completion to ensure the staff and business are integrated smoothly. Concrete Playground’s unaudited revenues over the past twelve months amounted to over $4 million, which would contribute a pro-forma EBITDA of $1.5 million at completion. Integrated under Vinyl Group’s media division, the business is expected to deliver operational efficiencies and accelerate our timeline on achieving group-wide positive cash flow by six months.

Completion is dependent on certain conditions precedent customary for transactions of this nature including the parties entering into a Share Sale Agreement, the buyer giving notice to the Seller that Due Diligence has been completed, obtaining any necessary shareholder ASX, or ASIC consents and approvals, and no material adverse changes occurring between now and completion. Completion is expected to take place no later than February 28, 2025.

“We are looking forward to working with Rich and the Concrete Playground team to complete this acquisition in early 2025,” says Vinyl Group CEO Josh Simons. “They’ve built a trusted platform that audiences genuinely love, and their approach to storytelling will be a natural fit with our broader media strategy. Operationally, this acquisition will be significant for Vinyl Group. It would not only elevate our capabilities but also fast-track our path to sustained profitability, allowing us to deliver even greater value to our shareholders and partners.”

“I’m immensely proud of everything Concrete Playground has achieved over the past 15 years,” adds Concrete Playground Founder & CEO Rich Fogarty. “This milestone reflects the talent, creativity, and dedication of our team, along with the trust of our readers and partners. As the business transitions to new ownership under Vinyl Group, I’m confident their vision and resources will elevate Concrete Playground to new heights, inspiring even more people to discover the very best their cities have to offer.”

Unhurd founder and CEO Alex Brees. Photo Credit: Unhurd

AI-powered music promotion platform Unhurd has acquired IndieKnow, a release-focused education and marketing app.

London-headquartered Unhurd (stylized as “un:hurd”) officially revealed its buyout of Bangkok-based IndieKnow today. Founded in 2021 by Music Concierge higher-up Andy Haggerstone, IndieKnow is billed specifically as a service for “helping musicians get from zero to one when releasing music.”

According to the appropriate website, the app features a checklist-equipped “release planner” designed to help artists cover all promotional bases before their works debut. IndieKnow, which costs £7 monthly and £60 annually, also includes access to “a press release writing wizard,” “a database of over 1,000 PR & radio contacts,” and other tools.

Now, Unhurd says it intends to integrate the newly acquired company’s “educational resources and step-by-step learning guides” – thereby taking another step towards bridging “the all-important knowledge gap for artists in getting release ready.”

Though the purchaser opted against disclosing the buyout’s precise financials – each side is “very happy” with the terms, per Unhurd – it did note that the deal extends to seemingly all IndieKnow’s holdings but not personnel.

Existing subscribers will be onboarded to Willard Ahdritz-backed Unhurd, which expects to complete the addition of IndieKnow’s assets early next year.

Unhurd founder and CEO Alex Brees, currently en route to Riyadh to pitch prospective investors, in a statement described the deal as “a natural alignment” and a means of enhancing value for his business’s own subscribers.

“IndieKnow is a cornerstone of knowledge and empowerment for artists,” the former Universal Music exec Brees continued in part, “and un:hurd has always been about helping artists cut through the noise more effectively.

“…When I saw what IndieKnow had built,” the Unhurd head concluded, “I knew this solution would not only solve this specific challenge for artists, but also saw how beautifully the solution would fit into our new workflows which are launching early 2025. This is very exciting for artists on the un:hurd platform!”

Unhurd’s newest expansion initiative follows a seven-figure seed round in Q1 2023 – and, closer to the present, multimillion-dollar raises for several music promotion startups.

This past February, SongTools scored $3 million in funding before rolling out its SongFly “one-click advertising tool” in April. Also in February, Groover finalized an $8 million Series A and eyed a global expansion as well as the launch of fresh features.

Itzhak Perlman, who’s inked a rights-related partnership agreement with Primary Wave. Photo Credit: Primary Wave

Primary Wave has acquired an interest in the work of “incomparable” violinist Itzhak Perlman – including a stake in “all” the 79-year-old’s recordings.

New York City-based Primary Wave and Tel Aviv-born Itzhak Perlman revealed their agreement today; the corresponding announcement message doesn’t dive into the precise ownership or financial details.

However, it does spell out that the pact encompasses “recording interests for all recordings performed by” the 15-time Grammy winner throughout the past half of a century or so. Additionally, the deal extends to the veteran conductor’s “artist royalties, as well as name and likeness rights,” according to Primary Wave.

Some of the many recordings at hand are Perlman renditions of “Black Orpheus”/“Manha De Carnaval,” Vivaldi’s The Four Seasons, and Tchaikovsky’s “Violin Concerto, Op. 35,” to name just a few. Also included are Perlman’s contributions to the scores of Schindler’s List and Memoirs of a Geisha, among others.

Moving forward, Primary Wave and the Presidential Medal of Freedom recipient Perlman intend to jointly explore marketing initiatives, sync opportunities, and new film and TV projects, per the involved parties.

And Perlman, who’s lined up a number of performances for the new year, indicated that he and Primary Wave had been in talks for a while prior to today’s announcement.

“I am excited to work with Primary Wave to see what plans they develop to take care of my recordings and to see what new opportunities they bring to the table,” relayed Perlman, who first performed on The Ed Sullivan Show nearly 67 years ago. “We have been in discussions about this relationship for some time, and I am looking forward to working with them.”

In remarks of her own, Primary Wave VP of business and legal affairs Lexi Todd added: “Itzhak Perlman is hands-down the greatest violinist of our time. It is a true honor to have had the pleasure to work with Mr. Perlman and his team on this partnership, and we are all looking forward to working together on new opportunities to spread his undeniable musicianship and his incredible story.”

Back in August, Primary Wave invested in the publishing rights of Chuck Mangione, and October saw BMG score a worldwide admin agreement covering the catalog of flamenco guitar legend Paco de Lucía.

Photo Credit: Mark Hansen

Live Nation has acquired a majority stake in Timeline, a talent management firm focused on influencers. Timeline will utilize Live Nation’s resources to expand its own ventures in branding, touring, and touring production.

Timeline represents more than 25 influencers and creators including Jamie Lynn Spears, Anastasia Karanikolaou, Madeleine White, Chantel Jefferies, The Mian Twins, Carter Gregory, and Victoria Villarroel. Music manager Larry Rudolph will serve a a strategic advisor and partner to Timeline through his affiliation with Live Nation.

“This strategic partnership with Live Nation represents a defining moment for both Timeline and the broader creator economy,” says Alexis Fisher, Founder & CEO of Timeline Management. “By leveraging Live Nation’s unrivaled resources alongside our deep expertise in talent management, we are creating a robust platform that empowers creators and talent to thrive across all facets of their careers including management, branding, and touring.”

“This collaboration not only underscores our dedication to supporting and representing elite talent within the Timeline Management ecosystem but also drives innovation through the introduction of services such as tour production and brand consulting. Together, we are equipping talent with the essential tools to excel in the ever-evolving entertainment industry,” Fisher concludes.

“Alexis has been at the forefront of influencer talent management,” adds Matthew Hansen, Chief Strategy Officer at Live Nation Entertainment. “The collaboration with Timeline will enable Live Nation to further expand into this emerging field, and we see Alexis’ integrated approach of combining influencer management, branding, and touring as the next logical step for growth in the creator economy.”

The deal represent’s Live Nation’s first foray into management with a focus on creators and influencers on social media rather than artists themselves. Timeline focuses on working with powerhouse young Hollywood and influencer talent and has developed a reputation for providing full service management across music, endorsements, social media strategy, live touring, personal appearances, and consumer products.

(l to r) Reservoir global creative director Donna Caseine, Lebohang Morake, Reservoir CEO Golnar Khosrowshahi, and manager Sibo Mhlungu. Photo Credit: Reservoir

Reservoir Media (NASDAQ: RSVR) has finalized another film-score catalog deal – this time with The Lion King composer Lebohang Morake, known professionally as Lebo M.

New York City-based Reservoir reached out today with word of its latest IP play, one month and change after CEO Golnar Khosrowshahi and Hans Zimmer appeared together at the Wall Street Journal Tech Live conference.

Reservoir has long had a stake in scores created by Zimmer, with whom Morake collaborated on the music for 1992’s The Power of One. On the heels of that tie-up, Johannesburg-born Morake “wrote and performed the opening of the legendary song ‘Circle of Life’” for 1994’s The Lion King, according to the purchasing party.

Since then, 60-year-old Morake has contributed to music featured in multiple other Lion King projects – including but not limited to the namesake musical and the forthcoming Mufasa: The Lion King, which is scheduled to hit theaters on the 20th.

Among the Grammy winner Morake’s other film-score credits are Tears of the Sun (2003), The Legend of Tarzan (2016), and The Woman King (2022), to name a few.

While Reservoir opted against publicly disclosing the transaction’s precise scope (acknowledging only “the acquisition of rights to the catalog” at hand) or price tag, Khosrowshahi in a statement touted Morake’s career accomplishments.

“Lebo’s music has moved generations of film lovers,” the Reservoir founder and head relayed, “with his contributions to ‘The Lion King,’ in particular, shaping some of film’s most beloved music.

“We are so proud to bring in rights to his influential catalog, reinforcing Reservoir’s interest in successful and culturally defining film scores, and we look forward to working with Lebo in the next phase of his career,” concluded Khosrowshahi, whose company also owns veteran composer Henry Jackman’s song rights.

And in remarks of his own, the Till Dawn Entertainment owner Morake relayed: “I’m proud to join forces with Reservoir, a company that recognizes the power of music to unite and inspire. This partnership will enable me to continue pushing the boundaries of creativity and sharing my music with new generations.”

Today’s agreement marks the latest in a line of 2024 IP purchases from Reservoir, shares in which have climbed about 18% following late-September activist investor comments. All told, the k.d. lang-partnered business says it possesses north of 150,000 compositions and 36,000 recordings – with plans in place to keep on increasing both figures.

Catch Point Rights Partners, which has reportedly sold its catalog to GoldState Music, possesses stakes in tracks recorded by Smash Mouth (pictured) and several others. Photo Credit: Ingelbert

Let the catalog acquisitions continue: One year after partnering with Flexpoint Ford, Charles Goldstuck’s GoldState Music has reportedly closed $200 million worth of music IP investments.

Nearly three-year-old GoldState just recently confirmed the sizable song-rights purchases (but not the exact value thereof) via its website. Said website also bills Create Music Group as part of GoldState’s growth portfolio; Flexpoint and Goldstuck injected $165 million into Create over the summer, but the corresponding announcement didn’t mention GoldState by name.

Evidently, however, the West Palm Beach-based “private investment firm with a primary focus on the music sector” has been making moves. Beginning on the personnel side, notwithstanding a relative lack of media coverage, that includes promotions (like upping Ben Chaiken to senior research analyst in May) as well as several hires.

Expanding on the latter, Billboard has pointed to GoldState’s acquiring the IP of Amplified Music Rights (AMR) earlier in 2024. GoldState reposted the appropriate piece on its website, and the buyout is seemingly not limited to AMR’s catalog.

To be sure, AMR CEO Tamara Conniff is now GoldState’s chief creative officer, and Lydia Yerrick revealed on LinkedIn that she’d transitioned from an executive role on AMR’s team to become GoldState’s VP of legal and business affairs. Plus, AMR social media and royalty analysis manager Justin Mandel joined GoldState’s team as a marketing consultant, to name a few examples.

Though the transaction’s precise financials haven’t been publicly disclosed, once again, we’ve covered a number of AMR’s catalog deals over the years.

This refers but isn’t limited to the work of multiple Christian songwriters and artists, Fitz and the Tantrums keyboardist Jeremy Ruzumna, and The Lovin’ Spoonful co-founder John Sebastian.

Also part of GoldState’s reported $200 million in song-rights deals is the catalog of Catch Point Rights Partners, according to the mentioned source. Per its website, Catch Point possesses interests in works recorded by Ariana Grande, Blink-182, Avril Lavigne, Kygo, Lionel Richie, Gwen Stefani, Queens of the Stone Age, and many others.

Contrasting the above-highlighted personnel shifts from AMR to GoldState, Catch Point, on the other hand, reportedly retained a portion of its song rights and intends to utilize remaining capital to scoop up more catalogs yet moving forward.

While time will tell whether additional investments are in the cards for Catch Point, the music IP arena certainly isn’t without deep-pocketed purchasers heading into 2025. A one-stop searchable database, DMN Pro’s Music IP Acquisition Tracker compiles catalog transactions alongside a variety of pertinent details.

Matt Alderman, who’s sold a portion of his song rights to (and inked a publishing deal with) Anthem Entertainment. Photo Credit: Anthem

Let the music IP sales continue: Anthem Entertainment has purchased “a catalog of songs” from country songwriter and producer Matt Alderman.

Toronto-headquartered Anthem reached out with word of its latest play, having taken a stake in Puerto Rican rapper Darell’s body of work earlier this month. On top of the core IP purchase – the financial and ownership specifics of which haven’t been publicly revealed – the newer of the pacts has also seen Anthem sign Nashville-based Alderman to a publishing deal.

Though the concise announcement message at hand doesn’t dive into the precise scope of the mentioned “catalog of songs,” it does emphasize that the agreement encompasses interests in Dylan Scott’s “Nobody” and “Can’t Have Mine (Find You a Girl),” both of which credit Alderman as a producer and songwriter.

Part of the investment as well is Mitchell Tenpenny’s “Truth About You” (which Alderman wrote). Meanwhile, Alderman has also penned and/or produced works recorded by Jake Owen, Nate Smith, Meghan Patrick, and a number of others. (Apple Music has compiled many of these releases in a handy “The Songwriters” playlist dedicated to Alderman’s professional efforts.)

Addressing his company’s deal with Matt Alderman, Anthem Publishing VP of creative Noah Dewey touted the songwriter’s career feats.

“I’ve been a fan of Matt Alderman’s for years and I’m thrilled to finally get the opportunity to work with him,” communicated the former BMG exec Dewey. “He’s an accomplished songwriter with immense natural musical talent, accompanied by a drive to win. Matt will be an amazing addition to our roster here at Anthem.”

And in comments of his own, Alderman thanked Dewey for helping make the partnership come to fruition.

“I’m really excited to start this new journey with Anthem,” indicated Alderman, “and I want to thank Noah Dewey for making it happen. I’m looking forward to seeing where this collaboration takes us and to creating some great music with the team.”

All told, the past month or so has delivered several high-profile catalog deals (as well as developments that will seemingly set the stage for further IP investments in the new year).

Compiled in DMN Pro’s Music IP Acquisition Tracker, those purchases include but aren’t limited to Reservoir Media’s “partial catalog” agreement with k.d. lang, a HarbourView-George Benson transaction, Sony Music’s multifaceted partnership with Amr Diab, and Concord’s $217.3 million Daddy Yankee IP play.

Photo Credit: Anthem Entertainment (Darell)

Anthem Entertainment has announced it has acquired a ‘wide selection of songs’ from Puerto Rican rapper Darell’s catalog. The acquisition includes the hit “Te Boté (Remix),” which features Casper Mágico, Nio García, Nicky Jam, Ozuna, and Bad Bunny.

Other Darell songs that are part of this acquisition include “Otro Trago”, “Asesina”, and other tracks that feature Jennifer Lopez, Rauw Alejandro, J Balvin, and other collaborators. The Toronto-based Anthem Entertainment says this acquisition will further bolster its Latin music portfolio. Anthem Entertainment’s publishing catalog also includes other Latin acts such as Pitbull, Farruko, Camilo, Ricky Martin, and Karol G.

Darell was represented in the deal by Angie Martinez, Esq., Denny Marte at MPA Advisors, LLC and Eddy Perdomo at EPM Entertainment.

Alongside the acquisition, Anthem also announced it had appointed Victor Mijares as the company’s first VP of Latin Music. Anthem says Mijares will work closely with Anthem’s acquisition team to “source and evaluate investment opportunities in the Latin market.”

“We are excited to welcome Victor as Anthem’s first-ever Vice President of Latin Music,” Anthem CEO Jason Klein said in a statement. “With his deep expertise in Latin music and culture, alongside his extensive industry experience, Victor will play a crucial role as we expand our presence in this vibrant and rapidly growing market. Under Victor’s leadership, Anthem’s acquisition of this extraordinary catalog of songs from Darell is a significant step in our strategy to invest in exceptional Latin music, further diversifying and enriching our already impressive catalog of songs.”

“I am honored and thrilled to have joined Jason Klein’s outstanding team and to contribute to Anthem Entertainment’s continuing success,” Mijares adds. “I believe that the potential to grow our business in the Latin sector is open-ended. We have the passion, commitment, and resources to shake exciting opportunities for our partners. The acquisition of a large portion of Darell’s catalog is a very important step for us as a company as well as for the Canadian music industry. We are delighted to add Darell’s masterful works to our growing repertoire.”

An aerial shot of Beijing, where Outdustry is headquartered, according to its LinkedIn profile. Photo Credit: Ran Liwen

A little over one month following the launch of Universal Music China Greater Bay Area, Virgin Music Group (VMG) has scooped up Beijing-headquartered Outdustry.

16-year-old Outdustry, which bills itself as “an artist services and rights management business for the new music industry,” took to social media to disclose the sale today; VMG confirmed the news in a formal release that was emailed to DMN.

With a focus on breaking global talent in both China and India, Outdustry says it’s “overseen marketing” for the likes of Adele, Dua Lipa, Laufey, and Diplo, to name a few. And while the “neutral independent” descriptor featured prominently on Outdustry’s website might need to be reworked in the wake of the sale, the company is touting the deal as “a win-win relationship.”

(Amid continued concerns about major-label-fueled consolidation on the indie side, it’s worth reiterating that Outdustry team members “run Merlin in China,” per the same website.)

On the organizational front, the namesake Outdustry Records is set to become “an affiliated label” of VMG, the Outdustry Songs publishing unit will proceed as an imprint of UMPG, and the sold company’s marketing services “will also continue to operate under the Outdustry brand, open for business as usual to third party clients.”

Next, Outdustry founder and CEO Ed Peto will continue leading his “team of 20 hotshot music industry professionals” while simultaneously serving as VMG’s head of international strategy in London.

“Bringing everything we’ve built at Outdustry into Virgin Music Group represents an enormous opportunity to expand our vision globally,” Peto communicated. “It’s never been a more exciting time to be working in music and I’m looking forward to working closely with the incredible team that Nat [Pastor] and JT [Myers] have assembled to create more opportunities for independent music entrepreneurs and artists all around the world.”

Needless to say, in light of today’s purchase, UMG’s global buildout ambitions definitely extend to China, the recorded music market of which, as underscored by streaming-platform earnings reports and IFPI data, is certainly continuing to grow.

Admittedly, though, limitations remain when it comes to capitalizing on this growth. There are several elements to the multifaceted sub-topic, but Live Nation head Michael Rapino touched on the subject during a Bloomberg sit down earlier this month. China is “too hard” to crack and isn’t “a good business,” per the exec, who indicated as well that “they won’t let most artists in, because they censor all the lyrics.”

(It might be a different story for some genres and artists; East Goes Global, which aims to help acts and celebrities find success in China, just recently emphasized The Chainsmokers’ touring and social media results in the nation.)

Taking a step back, Universal Music’s buyout-powered push for bolstered emerging-market results doesn’t begin and end with China, where Believe and others are likewise hunting for growth. Virgin Music Group kicked off 2024 with the purchase of Saban Music Latin, from which it signed multiple acts, for instance.

A performance from Alice Cooper at Wacken Open Air, one of the festivals under the Superstruct banner. Photo Credit: Frank Schwichtenberg

About four months after KKR revealed the acquisition of Superstruct Entertainment, CVC has officially taken a stake in the European concert giant.

Luxembourg-headquartered CVC just recently announced that it had moved to get in on the live entertainment action, after the BMG stakeholder KKR in June unveiled the reportedly $1.4 billion purchase of Superstruct.

Founded in 2017, the events organizer is said to own north of 80 festivals, among them Wacken Open Air and Tinderbox, held across 10 countries. KKR’s initial buyout disclosure didn’t mention CVC, but the latter says it’s “invested alongside” the original purchaser, with the appropriate transaction having “now closed.”

Unsurprisingly, the parties opted against diving into the financials associated with CVC’s involvement. However, CVC, which trades under the same ticker on the Euronext Amsterdam and is said to have over $200 billion in assets under management, is poised to help Superstruct on “its mission of creating best-in-class live experiences,” according to the brass-tacks release.

That refers in part to “working closely with entrepreneurs, creative visionaries and business-minded professionals” to assist Superstruct in “driving innovation and setting the standards for live entertainment,” the overview-focused text proceeds.

While the former Stage Entertainment owner CVC’s precise contributions to the post-sale Superstruct remain to be seen, it’s worth noting that the investment firm’s portfolio extends to multiple digital marketing businesses, Authentic Brands Group, at least one travel agency, and a whole lot else.

Bigger picture, despite festival-attendance woes, the collapse of Festicket, and the ongoing dominance of Live Nation, KKR and CVC are hardly alone in looking to cash in on the live space.

(Incidentally, Live Nation’s shares cracked another 52-week high, this time of $119.40 apiece, yesterday. Still staring down a Justice Department antitrust suit, the Ticketmaster parent is scheduled to post its third-quarter earnings on November 12th.)

CTS Eventim over the summer closed its approximately $330 million purchase of various Vivendi ticketing and festival assets outside France.  Also on the ticketing front, notwithstanding Festicket’s mentioned demise, the likes of TickPick and Seat Unique have scored sizable investments on the year.

In keeping with the apparent investor optimism fueling those investments, another ticketing platform yet, Dice, is reportedly exploring a sale that would value it in the hundreds of millions of dollars. Meanwhile, though the process has experienced multiple delays, StubHub’s sought $16.5 billion IPO reportedly remains on the table.

IMPALA is demanding an investigation into Universal Music Group’s recent purchase of the remaining stake in [PIAS], allegedly the latest byproduct of ‘unchecked concentration in the music market.’ Photo Credit: IMPALA

Now a wholly owned subsidiary of Universal Music Group (UMG), [PIAS] has officially exited the Independent Music Companies Association (IMPALA), which is calling for regulators to investigate the underlying deal.

IMPALA today confirmed the departure of [PIAS] and formally reacted to UMG’s purchase of the decades-old indie label group. Said purchase, we reported earlier this week, saw Universal Music scoop up the remaining 51% of the business after buying a 49% stake in 2022.

Besides thanking [PIAS] co-founders Kenny Gates and Michel Lambot “for their support and insight over the past twenty four years,” IMPALA took aim at the “serious problem” of “unchecked concentration in the music market” and pushed for related regulatory action. (A Wayback Machine copy of the appropriate webpage indicates that only Lambot, not Gates, had been on IMPALA’s board prior to the post-sale exit.)

“The move by UMG squeezes the independents further in an already very concentrated market,” the Brussels-based organization wrote. “It also goes against the principle established by the European Commission over ten years ago during UMG’s takeover of EMI that UMG is already too big.”

Emphasizing the EU’s evidently expired “ten year ban” on acquisitions for UMG, 24-year-old IMPALA then drove home the belief that the [PIAS] play “will increase the power of UMG across Europe and beyond.”

Moreover, regarding the consolidation efforts of all three majors, there’s “a serious risk” that Universal Music, Sony Music, and Warner Music will bring about a “real disruption for the independent sector” by continuing to spearhead indie-sector purchases, per IMPALA.

Multiple IMPALA higher-ups, including AIM interim CEO Gee Davy, weighed in on the [PIAS] sale and its implications for the indie space – with executive chair Helen Smith driving home the perceived need for competition-focused scrutiny.

“IMPALA expects regulators to investigate the acquisition and answer the question the industry is asking about how it is possible for UMG to gain more market share after it was already considered too big,” Smith spelled out of the [PIAS] purchase concerns.

“We would expect both physical and digital markets to be assessed including for distribution services, as well as the impact on competitors, digital services, artists and fans. A share deal is one thing, this is something else,” concluded Smith.

Time will tell whether the sought probe of the newest deal between UMG and [PIAS] comes to fruition – and whether the possible inquiry produces the desired result for the WIN member IMPALA. Previously, Sony Music’s AWAL purchase encountered some regulatory scrutiny in the U.K. but was ultimately approved.

Worth highlighting in conclusion is that [PIAS] co-founder Kenny Gates, as noted at the time of the sale’s announcement, is poised to continue running the business as a division of UMG; the professional status of fellow co-founder Michel Lambot wasn’t quite as clear. However, Lambot is set to “remain active in the music and broader cultural sector through a new business, Emotions,” IMPALA confirmed.

A live performance from Daddy Yankee, who’s sold his catalog to Concord. Photo Credit: Chrishonduras

Earlier this week, DMN first reported on Concord’s over $217 million buyout of “a highly successful” Latin artist’s catalog. Now, the company has officially confirmed a deal with Daddy Yankee.

Concord reached out to Digital Music News today with a formal release about its Daddy Yankee IP agreement. Our earlier coverage stemmed from a KBRA breakdown of the business’s financials and holdings – including a recent $217.3 million play for the “catalog of assets by a highly successful Latin Music artist and songwriter.”

Notwithstanding the latter specification, KBRA didn’t come right out and identify the artist’s name. However, the rating agency did describe the appropriate act as one defendant in “a copyright infringement claim against several artists in the Latin Music genre.”

While what’s likely the claim in question is sweeping to say the least – we’ve broken down that reggaeton-theft action at length – we noted that the commercially prominent Daddy Yankee is one of the suit’s many defendants.

Shifting back to the present, Concord has eliminated all doubt by acknowledging the purchase of a stake in Daddy Yankee’s publishing catalog and masters, on top of “certain name, image, and likeness rights” to boot.

Though Concord opted not to disclose the exact ownership specifics, the Nashville-headquartered company specified that the pact “encompasses Daddy Yankee’s work from 2002 through 2019.” During the period, the Puerto Rican artist released five studio albums (beginning with 2002’s El Cangri.com) as well as a number of much-streamed non-album singles.

“Since he burst onto the scene,” added Concord CEO Bob Valentine, “Daddy Yankee has been at the forefront of not only reggaeton, but pop music generally.

“We were incredibly excited by this opportunity to work alongside Daddy Yankee to continue building on his remarkable legacy and significance. His real and lasting cultural impact is clear, and Concord is thrilled to be a part of his story,” the longtime exec concluded.

Looking ahead to the future, Concord intends to manage Daddy Yankee’s catalog out of its Miami office – with plans in place to keep on acquiring “important content in the Latin music space” moving forward.

Besides achieving ongoing growth across a number of quick-developing markets – Brazil, Mexico, and Argentina among them – Latin music is generating more recorded revenue than ever in the U.S., according to RIAA data.

Randy Newman, who’s inked a song rights deal with Litmus Music. Photo Credit: Pamela Springsteen

Another day, another high-profile song rights deal – this time involving Randy Newman, who’s sold an interest in his catalog to Carlyle Global Credit-backed Litmus Music.

Litmus formally revealed its latest investment today, about six weeks after reportedly scooping up Opus Music Group. Running with the newer deal, the purchasing party says it’s specifically secured 80-year-old “Randy Newman’s share of his recorded music and publishing.”

Like with most recent catalog purchases, the buyer, at least in its official announcement, opted against identifying the precise financials at hand. (Other massive catalog deals are apparently closing without so much as a public disclosure.)

But Litmus did indicate that the agreement extends to the Songwriters Hall of Fame inductee’s well-known work on animated films including Toy Story as well as its sequels (Newman is the sole producer and songwriter on “You’ve Got a Friend in Me”), Cars, Monsters, Inc., and more.

Also as described by Litmus, the play includes a variety of Newman hits from decades past, among them 1983’s “I Love L.A.,” the 90s’ “Feels Like Home,” 1967’s “Mama Told Me Not to Come,” and Monk theme “It’s a Jungle Out There,” to name just a few.

All told, besides a variety of soundtrack albums (including for 1998’s Pleasantville and the more recent Marriage Story), Newman has released about a dozen full-length solo studio projects, including an eponymous 1968 debut and 2017’s Dark Matter.

Though Newman didn’t provide a statement about the sale for Litmus’ release, co-founder and CCO Dan McCarroll emphasized that he and his team “couldn’t be more proud and excited to acquire Randy’s catalog of beautiful, witty, and sharply observational songs.”

And in remarks of his own, Litmus co-founder and CEO Hank Forsyth touted the professional accomplishments and career of the 23-time Grammy nominee and seven-time winner.

“Randy’s music has touched so many generations,” communicated Forsyth. “His songs continue to transcend time and illuminate films. Dan and I and the entire Litmus team are so grateful Randy has trusted us as his partner to care for these songs and recordings. It is an honor and responsibility we don’t take lightly.”

For Litmus, the Newman partnership follows several seemingly sizable deals – including, besides the initially mentioned Opus play, IP pacts with Katy Perry, Benny Blanco, and, in its first investment after arriving on the scene in 2022, Keith Urban. (Details about these and hundreds of others are compiled in DMN Pro’s Music IP Acquisition Tracker.)

Meanwhile, notwithstanding the end of the company that kicked off the catalog-purchase craze, the likes of Reservoir Media, Sony Music (it turns out Pink Floyd was serious about selling after all), Jonas Group Publishing, Primary Wave, and HarbourView Equity Partners are still racking up song-rights investments as well.

(l to r) Reservoir Media founder and head Golnar Khosrowshahi, k.d. lang, and president and COO Rell Lafargue. Photo Credit: Reservoir

Reservoir Media (NASDAQ: RSVR) has inked a publishing deal with k.d. lang, including a stake in the singer-songwriter’s existing body of work and futures.

Reservoir and Edmonton-born k.d. lang (real name Kathryn Dawn Lang) unveiled their agreement today, about one week removed from the former’s acquisition of producer Jack Douglas’s own catalog.

In keeping with the longstanding sub-sector-wide practice of not disclosing IP purchases’ specifics, Reservoir opted against shedding light on the precise terms at hand. However, the New York City-based business did note that the k.d. lang deal extends to the Canadian Music Hall of Fame inductee’s “future works and partial catalog.”

Just at the top level, that overarching catalog encompasses 12 solo studio albums – 1988’s Shadowland through 2008’s Watershed – as well as several collaborative projects, multiple works as part of The Reclines, and a variety of singles. Among the latter are k.d. lang-penned efforts including 1992’s “Constant Craving,” which currently has 50.23 million Spotify streams and a substantial number of plays across other platforms.

Addressing the Reservoir partnership, the eight-time Juno winner k.d. lang pointed to a strong relationship with the company’s founder and CEO, Golnar Khosrowshahi.

“It is an absolute thrill to partner with Reservoir!” the 62-year-old Ingénue creator relayed. “Golnar is a force of nature and understands me as an artist. I am deeply inspired and have utmost confidence in this creative partnership.”

And in remarks of her own, Khosrowshahi noted that she’s “particularly proud to be working with k.d.” as a fellow Canadian and emphasized a goal of helping the professional’s body of work find new fans.

“It never gets old when a legendary artist like k.d. lang decides to call Reservoir her home,” Khosrowshahi relayed in part. “Her incomparable voice and music are a gift to the world. We look forward to helping her share those gifts with new audiences and supporting her as she steps into the next chapter of her career.”

In September, Reservoir scored publishing pacts with Snoop Dogg and his Death Row Records label – though the same month also saw the business face a call to launch “a full strategic review” over its allegedly “substantially undervalued” shares. That demand came from Irenic Capital Management, and Reservoir in a follow-up said it “values shareholder input” and remains “focused on executing our strategy to drive value.”

At the time of writing, Reservoir stock was hovering around $9 per share – up slightly from yesterday’s close, nearly 10% across the past five trading days, and over 50% from mid-October of 2023.

[PIAS] co-founders Kenny Gates and Michel Lambot, who’ve sold their remaining shares in the company to Universal Music Group. Photo Credit: UMG

Independent no more: Just shy of two years after selling a minority stake to Universal Music Group (UMG), [PIAS] has parted with its remaining shares in a new deal with the leading label.

UMG reached out with a formal announcement message but has thus far opted against providing additional details (including price-tag specifics) about the transaction. In any event, November of 2022 had seen the major scoop up a 49% interest in the self-described “family of independent record labels” [PIAS].

And now, the co-founders of this London-headquartered label family, Kenny Gates and Michel Lambot, have opted “to sell the remaining shares they hold in the company,” UMG spelled out.

As to the post-purchase organization, [PIAS] is set to roll its [Integral] distribution unit into UMG’s Virgin Music Group. At least for the time being, the labels behind [PIAS], including but not limited to the namesake Play It Again Sam (PIAS) and Spinefarm, will in Universal Music’s own words “remain completely autonomous.”

Next, the aforementioned [PIAS] head Kenny Gates has inked “a long-term contract to remain as CEO” and will also sit on Virgin Music Group’s board, the purchasing party communicated.

“I am selling my shares not my soul,” relayed Gates, who established [PIAS] more than four decades ago. “Since agreeing [to] a strategic alliance with UMG in 2021 we have found them to be supportive and engaged partners who have added real value to our offering.

“The decision by myself and Michel to relinquish our remaining shareholdings in the company is a pragmatic one that will allow us to offer a truly global distribution and services platform to the independent music community,” the exec proceeded in part.

While the text doesn’t come right out and acknowledge co-founder Michel Lambot’s role moving forward, the longtime exec, who’s also CEO of a company called Emotions, appeared to indicate that he’ll remain part of [PIAS].

“This new phase, which will see us working even closer together promises to be an exciting new era for [PIAS], our staff, our partners and the artists we represent,” the Strictly Confidential chairman and former co-president relayed.

Taking a step back, UMG’s deal for the remaining piece of [PIAS] marks the latest in a long line of indie-focused consolidations from the majors. In the end, Artists Without a Label (AWAL) did, in fact, see its acts find a label – and the second-largest label in the world at that.

The Orchard owner Sony Music announced the $430 million AWAL purchase in 2021, and the transaction cleared regulatory hurdles the following year. Bringing the focus closer to the present, it was only earlier in 2024 that Warner Music Group made a serious play for Believe.

However, the acquisition-minded WMG ultimately abandoned the takeover attempt, thereby removing a massive obstacle for Believe on the road back to private ownership.

Concord spent over $217 million on the catalog of a popular Latin artist whose name hasn’t been publicly revealed, per a new report. Photo Credit: Giorgio Trovato

Who says all catalog buyers tout blockbuster deals via detail-oriented announcements? Concord has acquired an undisclosed Latin music star’s body of work for north of $217 million, per a new report.

That report comes from Kroll Bond Rating Agency (KBRA) in connection with Concord’s issuance of another $850 million in notes, which have an anticipated repayment date in October of 2029. All told, the overarching portfolio is worth $5.1 billion, according to the report, up from $4.2 billion in 2023.

The sums don’t include any revenue from name, image, and likeness rights, but the newer total does reflect a cumulative $606.3 million worth of IP acquired by Concord in its Mojo Music & Media and Round Hill buyouts.

While the value of those plays is interesting, more intriguing yet is the $217.3 million “acquisition of a catalog of assets by a highly successful Latin Music artist and songwriter.”

Unsurprisingly, the text doesn’t come right out and reveal the name of said artist, and neither the individual nor Concord appears to have formally announced the relevant transaction. (Although rare, under-the-radar IP sales wrapped without public disclosures aren’t new, we’ve highlighted on multiple occasions.)

However, the report’s risks section points to another interesting detail about the seller: The artist and songwriter at hand is a party to “one outstanding lawsuit relating to the” assets. “The lawsuit involves a copyright infringement claim against several artists in the Latin Music genre, and the artist has been covering all legal costs in connection with this litigation.”

Though it perhaps goes without saying, the abundance of industry and industry-adjacent courtroom confrontations means pinpointing an exact case (and then a possible catalog seller) based on any brief description is inherently difficult.

But the action that immediately comes to mind is the sweeping reggaeton-theft suit filed by one Cleveland Constantine Browne and others against a multitude of artists and companies. We previously broke down the convoluted, far-reaching, and years-old copyright complaint, which, in short, is alleging the unauthorized widespread copying and sampling of “groundbreaking” reggaeton instrumental elements.

Admittedly, some of the many artist defendants (Drake, Justin Bieber, Stefflon Don, and others among them) are situated outside the Latin space. But all manner of different defendants, including but certainly not limited to Bad Bunny, Daddy Yankee, De la Ghetto, Karol G, Ricky Martin, Enrique Iglesias, and Anuel AA, are prominent in the Latin world.

Without diving too much further into the multifaceted subject, it’s worth bearing in mind the gargantuan value attached to the deal – several legacy acts’ well-established and comparatively expansive rights have fetched sums in the same ballpark – and Latin’s continued sales growth in the U.S. and elsewhere.

Warner Music Benelux president of recorded music and publishing Niels Walboomers (left) and Cloud 9 president Raymond van Vliet. Photo Credit: WMG

Warner Music Group (WMG) wasn’t kidding about its aggressive acquisition plans, as the Robert Kyncl-led major label has officially acquired the Netherlands’ Cloud 9 Recordings.

The restructuring-minded WMG reached out with word of that purchase today, after closing a number of different investments (and exploring, albeit without wrapping, others yet) earlier in 2024. Additionally, it was only six or so months back that Armada Music’s BEAT dance-investment fund announced a deal for Cloud 9’s publishing operation.

But the newer agreement, evidently distinct from BEAT’s play, covers the label side. Cloud 9 Recordings serves as the professional home of Claude, Jake Reese, Kris Kross Amsterdam, and Snelle, to name a few, with stakes in the catalog of Antoon and more to boot.

Though the purchasing party opted against publicly disclosing the financial specifics at hand, it did note that Cloud 9 co-founder Raymond van Vliet is expected to remain aboard as president.

Still operating independently (albeit under the Warner Music Benelux banner), Cloud 9 is poised to relocate its current team to WMG’s Amsterdam Music Harbour as well.

A creative hub boasting “a multi-level warehouse with industry chic vibes,” four recording studios, and more, Amsterdam Music Harbour was unveiled just shy of one year ago. Now, this hub will house Cloud 9, Warner Music Benelux, Warner Chappell Benelux, and Spinnin’ Records.

Returning to the publishing front, Warner Music Benelux has also inked an exclusive worldwide admin deal with Blue Skies Publishing. That Laren-based entity likewise involves Raymond van Vliet, reps several Cloud 9 acts, and was according to its LinkedIn profile founded in 2024.

In a statement, WMG Benelux president of recorded music and publishing Niels Walboomers, whose company brought on Goldman vet Michael Ryan-Southern over the summer to “supercharge” its buyouts strategy, touted Cloud 9’s “significant impact on the Dutch music industry.”

And in comments of his own, Raymond van Vliet struck an optimistic tone when describing Cloud 9’s future.

“On November 1st, Cloud 9 Music will celebrate its 20th anniversary,” the Cloud 9 president said in part. “It is a proud moment to sell this incredible company on the eve of this milestone. In the coming years, I will continue to lead Cloud 9, ensuring that my team, enhanced by Warner Music’s expertise, will keep representing our artist roster. We will take the next steps in the careers of our artists and continue to expand Cloud 9 Music.”

Nick Mason and David Gilmour performing live. Photo Credit: anyonlinyr

Several years, twists, and turns later, Pink Floyd has reportedly sold its recordings and more to Sony Music Entertainment in an approximately $400 million deal.

That long-awaited sale entered the media spotlight in a Financial Times report, and DMN received separate confirmations of a finalized transaction from parties with knowledge of the matter. However, neither Sony Music nor the almost six-decade-old band had acknowledged the deal via a formal statement or release at the time of writing.

But we’ve been tracking the high-profile (and high-value) IP selloff since the summer of 2022. For a time, evidence suggested that Pink Floyd was close to cashing in on the body of work – with BMG, Warner Music, and more mentioned as possible purchasers.

Subsequently, different evidence, including the contentious relationship and reported infighting between David Gilmour and Roger Waters, pointed to a fizzled-out attempt at a sale.

Following a decidedly quiet 2023, that changed earlier in 2024, when Gilmour last month rather conspicuously expressed renewed interest in selling. Of course, nearly half-billion-dollar transactions don’t come to fruition overnight; assuming today’s indications of a sealed sale are accurate, related talks had presumably been ongoing for a while before the public declaration.

In any event, the Times pointed to recording, name, and likeness rights’ (excluding compositional interests) being included in the deal, to which a more expensive $500 million price tag had previously been attached. (The reportedly encompassed song rights align with those connected to the sale back in November of 2022.) Beyond this top-level description, concrete specifics about the precise IP are few and far between at present.

Even so, the reported purchase marks the latest in a line of blockbuster buyouts from Sony Music, which, to put it bluntly, hasn’t been shy about pursuing valuable catalogs created by or tied to controversial figures.

Running with the point, multiple reports have cited certain of Waters’ remarks as another contributing factor to the slow Pink Floyd catalog sale. And while that may be true, there are presumably fewer PR headaches associated with contentious comments than serious allegations of wrongdoing.

Earlier in 2024, Sony Music scooped up a stake in the song rights of Michael Jackson, whose work remains commercially prominent despite the inherent baggage of sexual assault claims against the deceased singer. Moreover, the major label has battled opposition to the investment from the artist’s family as well.

Bigger picture, Sony Music in June reportedly scored a $1.3 billion deal for Queen’s IP. It’s unclear whether the play is officially final, but the involved rights, like those of Pink Floyd, had also reportedly been on the market for some time beforehand.

Photo Credit: Vinyl Group

Australia’s Vinyl Group has completed an agreement to acquire the assets of London-based Web3 platform Serenade.

Vinyl Group, the only music company listed on Australia’s Securities Exchange (ASX), has entered into an agreement to acquire the assets of London-based Serenade, a Web3 pioneer of physical and digital collectibles, through a business deed sale which includes 100% of the shares of Serenade’s UK subsidiary.

Serenade’s digital marketplace has served over 200 global artists, including Liam and Noel Gallagher, Muse, Sum 41, Twenty-One Pilots, and Thirty Seconds to Mars. Sales of their NFC-enabled Smart Formats have grown 56% month-over-month since launching in January, with a total of 12,000 units sold in the first half of the year.

Further, Serenade has commercial partnerships with over 100 record labels, including Warner Music Group, Beggars Group, Concord, Glassnote, FUGA, and PIAS. It will operate alongside the Vinyl brand with the goal of improving the gross margins of its fastest growing division.

Vinyl Group has acquired 100% of Serenade’s assets (excluding their R&D receivable) in exchange for $800,000 in shares, valued at the 15 day volume weighted average price (VWAP) of Vinyl Group shares on the ASX for the period immediately preceding the completion date, for a total of 8,214,274 ordinary shares. These shares will be subject to a 12-month escrow from the date of issue.

A further $1,500,000 in shares will be paid to the shareholders of Serenade, contingent on the combined business of Vinyl.com and Serenade achieving a minimum revenue target of $4,000,000 and Earnings Before Interest and Taxes (EBIT) of $500,000 in the 12 months following the completion date.

The company will also purchase Serenade’s UK subsidiary on a debt-free, cash-free basis, free of any and all encumbrances, for $1.00 with a one-month put option, for the purposes of expediting the expansion of the business into the UK and European markets.

As part of the deal, key Serenade employees have joined Vinyl Group, with Serenade CEO Max Shand entering into a full-time employment agreement with Vinyl Group, to both lead Serenade to achieve its performance goals while also helping to rapidly accelerate the Vinyl business. This will aid in expanding its product offerings into physical and digital collectibles while launching into additional markets.

To incentivize performance, Shand will receive five million options upon sale completion, vesting in two equal tranches. The first vests upon the combined business of Vinyl and Serenade achieving 12 month post completion goals of $4,000,000 in revenue and $500,000 in EBIT, aligned with the performance stock offered to Serenade shareholders. The second tranche vests on the second anniversary of an employee’s employment. These options will have a seven-year term and will have an exercise price to be agreed between the purchaser and Shand prior to the issue of the options.

“Max Shand has built Serenade into a business with significant potential, and through our acquisition of the platform, we’ll put the resources into Serenade to allow it to reach that potential,” said Vinyl Group CEO Josh Simons. “Vinyl Group is, at its core, a tech business, and this was a great opportunity to expand our tech offering. We look forward to welcoming Max and other key members of the Serenade team to Vinyl Group.”

Serenade CEO Max Shand concludes, “I’m thrilled to announce the acquisition of Serenade by Vinyl Group, Australia’s only ASX-listed music company. From our very first conversation, it was clear that Josh […] and the board shared our vision for supporting artists and audiences through outstanding music products, and so I’m excited to see how this partnership accelerates our impact. I also want to acknowledge the incredible Serenade team, whose passion, integrity, talent, and dedication made this all possible.”

The deal was completed over the weekend, with the buying giving notice to the seller that due diligence had been satisfied. Vinyl Group has agreed to pay the verifiable legal and accounting costs of Serenade capped at $20,000.

Believe has officially completed its multimillion-dollar acquisition of Doğan Music Company, which is said to be the largest indie label operating in Turkey. Photo Credit: Believe

Believe has officially completed its acquisition of Doğan Music Company, which is billed as Turkey’s largest indie label.

The Paris-headquartered buyer reached out with word of the deal’s wrap today, after first announcing the play closer to the top of August. At the time of the latter disclosure, the investment was still subject to regulatory approval in Turkey, where Believe had taken a 60% stake in Doğan in 2020.

With that years-old move having evidently proven lucrative, Believe exercised a call option for the remaining 40% or so. This purchase for the outstanding piece brought a $42.65 million (€38.3 million) price tag, according to the expansion-minded business, which didn’t hesitate to drive home its “full ownership” of the Turkish label.

Said label’s roster features a number of artists across a variety of genres, with rock band Yüksek Sadakat, pop singer Yonca Evcimik, and rapper Reckol alike part of Doğan, per its website.

Meanwhile, on Believe’s side, the company pointed to a nearly 25% year-over-year revenue increase in Europe (excluding France and Germany) for H1 2024, at $169.22 million/€152 million. In Asia-Pacific and Africa, Believe experienced a roughly 4% YoY revenue improvement at $129.57 million/€116.4 million, the appropriate report shows.

And as described by the Sentric owner, which opened an Istanbul office in 2012, it’s poised to work towards “supercharging the growth and global reach” of the Doğan roster.

Elaborating on that objective, Believe president for META, East and Southern Europe, and the Americas Viktoria Siniavskaia emphasized the continued development of Turkey’s music market.

“The Turkish music industry has undergone a massive change since Believe’s launch in the market back in 2012,” relayed the 13-year Believe exec, “with a solid growth of streaming and countless artists and labels reaching new and wider audiences both locally and beyond.

“On Spotify alone, the Top 100 list went from 11 local artists in 2013 to 91 in 2023! I couldn’t be prouder of Believe having been a key driver in this evolution, alongside DMC and our digital partners, boosting the digitalization of the market and that of local music genres,” concluded Siniavskaia.

Closing with a recap of Believe’s other 2024 buildout initiatives, July saw the business take a 25% interest in Romanian dance label Global Records and move forward with Greater China executive appointments ahead of a wider expansion in the increasingly lucrative region.

Mixcloud has announced the acquisition of Encore, through which clients can book musicians to play private events. Photo Credit: Mixcloud

Superfan-geared streaming platform Mixcloud has announced the acquisition of Encore, through which clients can book musicians for live performances.

The London-based companies just recently revealed their agreement, pointing out as well that the transaction coincides with Mixcloud’s 15th anniversary. Decade-old Encore, on the other hand, bills itself as today’s “fastest way to find and book great musicians.”

Offering access to talent across a variety of categories, genres, and event types, per its website, UK-focused Encore is said to have facilitated north of 50,000 bookings to date.

Now, the businesses (which opted against publicly disclosing the sale’s financial specifics) say they’re poised to coordinate on a “united effort to build tools for communities to grow, monetize and connect through music.”

At the top level, that will see Encore keep on operating independently while Mixcloud drives “the next stages of the company’s product.”

Additionally, Mixcloud co-founder Nikhil Shah (who first backed Encore half a decade ago) is set to sign on as Encore’s chairman. In this role, the longtime angel investor is expected to “provide strategic guidance as Encore enters a new phase,” the involved parties indicated.

Addressing the deal, Encore co-founder and CEO James McAulay touched on the inherent opportunities associated with uniting the community and talent-booking platforms.

“Teaming up with Mixcloud,” the exec communicated in part, “a company we’ve long admired who have made an enormous impact on music culture, feels like the perfect next step. I’m excited about unlocking the next chapter of Encore’s growth with the support of Mixcloud to build a larger ecosystem and deliver more opportunities, earnings, and tools to our incredible musicians.”

In comments of his own, Mixcloud co-founder and longtime CEO Nico Perez emphasized an objective of capitalizing on his company’s “global reach and resources” to help musicians “earn a living and connect with their audiences in new and innovative ways.”

Especially amid the continued industry-wide embrace of superfan monetization, it’ll be worth monitoring the byproducts (possibly including an expansion into new markets) of Mixcloud’s Encore buyout. Of course, it stands to reason that a portion of diehard supporters are interested in booking proper musicians for various special occasions and events.

And particularly in light of the eye-watering costs attached to attending certain gigs at present, it might prove easier than ever for prospective customers to justify tapping talent for private happenings.

Photo Credit: Nesta592 / CC by 4.0

Pink Floyd is reportedly in ‘advanced talks’ to sell their catalog to Sony Music for around $500 million.

The potential sale of Pink Floyd’s catalog has been a topic of much discussion for the past couple of years, but it’s seemed increasingly unlikely that a deal might come to fruition. Now, the Financial Times reports that Sony Music is in “advanced talks” to acquire the band’s music for around $400 million to $500 million.

Specifics on the deal have been kept under wraps, with representatives for neither the group nor Sony responding to media requests for comment. But if the price is as high as reports indicate, it would imply that Waters’ remarks have had little impact. A lower price tag would mean he has effectively devalued the catalog.

The group seemed close to reaching a deal back in 2022, but the continuous feud between the band’s members — especially over Roger Waters’ controversial political statements regarding Israel and Ukraine — seemed to have complicated the deal and scared off any potential buyers.

Waters’ former bandmate David Gilmour agreed with his wife Polly Samson’s assessment on Twitter back in February that Waters was “anti-Semitic to [his] rotten core.” Waters was quick to refute those accusations, calling them “incendiary and wildly inaccurate.”

Regardless, the tensions between Pink Floyd’s members could make a sale of their catalog a source of relief for the band. Earlier this month, Gilmour told Rolling Stone that he would be pleased to reach a deal on the catalog’s sale, which would enable him to finally get “out of the mud bath” — seemingly referring to Waters’ controversial views.

“To be rid of the decision-making and the arguments that are involved with keeping it going is my dream,” said Gilmour.

Sony has never officially confirmed its recent catalog purchases, which have included those of Bob Dylan, Bruce Springsteen, and Queen’s name and likeness rights outside of North America. But those deals have all been widely reported and/or listed later on the company’s earnings reports. Still, if news emerges of the deal having closed, Sony could face hefty amounts of criticism for paying such a sum to Waters.

Other companies who showed an interest in the catalog and were close to a deal in 2022 include Hipgnosis, BMG, and Warner Music. But each of those companies has experienced leadership changes since then, and BMG even dropped Waters as a solo artist from its roster following some of his political remarks.

A live performance from Juice WRLD, whose work is part of the Opus Music Group catalog. Photo Credit: Andy Jones

Litmus Music has seemingly scooped up Opus Music Group, the home of Juice WRLD, Ozuna, and Maluma song rights.

Word of the deal emerged only recently in a since-deleted LinkedIn post penned by Truist Securities managing director Charles Johnson. According to that message, which was yanked just moments after DMN reached out to Litmus for comment, Truist in July served as lead bookrunner and left lead arranger on an upsized Litmus credit facility.

Totaling $400 million (up from $250 million), the facility was “used to finance the purchase of Opus Music Group,” per the text, which also spells out that “Truist Securities worked closely with existing lenders to meet the timeline of the Opus acquisition closing while introducing new issuer-friendly terms that provide Litmus the flexibility to execute their growth initiatives.”

At the time of this writing, Litmus, which in 2023 spent a reported $225 million on Katy Perry’s catalog, hadn’t responded to a request for comment. Similarly, it, Opus (the website of which was still live), and Truist alike didn’t appear to have put out releases pertaining to the subject.

However, it’s been one year since the Katy Perry deal was announced, and Billboard has reported that Opus, despite displaying a founding year of 2022 on LinkedIn, started exploring a catalog sale in April.

As described in different reports, it was in or around the top of 2022 that Elliott Investment-powered Opus acquired Juice WRLD’s music IP.

Among other things, the reported Opus Music purchase underscores the considerable capital that’s still flying around the catalog arena notwithstanding broader economic concerns and an adjacent emphasis on cash.

Last month, after Calvin Harris’ $100 million catalog changed hands in July, Iconoclast finalized a deal (one component of a broader focus on reggae) with Half Pint, and James Fauntleroy sold to HarbourView Equity Partners.

With that said, the IP sub-sector hasn’t been without turbulence – see the Barry Manilow v. Hipgnosis showdown and the opposition of Michael Jackson’s family to a $600 million pact with Sony Music – as of late.

Closing on a more positive note, the space’s myriad deals are, of course, ushering in aggressive efforts to monetize the involved works. Cinq Music today reached out with word of Daddy Yankee’s “first-ever vinyl drop,” under which projects including Barrio Fino are set to become available to fans next month. A second drop is expected to follow (with three separate vinyl albums) in November for Cinq, which in May bought Flow La Movie’s catalog.

Photo Credit: Reservoir Media

Reservoir Media has announced the acquisition of the publishing rights to the catalog of late singer-songwriter Billy Strange. The deal includes hit songs such as Elvis Presley’s “A Little Less Conversation,” “Memories,” and “Clean Up Your Own Back Yard.”

Billy Strange began his career in music as a session guitarist in the 1950s before making a name for himself as a songwriter and arranger. He frequently collaborated on hits for Elvis Presley, including the theme song from the 1969 American western film ‘Charro!’ in which Presley stars.

The song “A Little Less Conversation” originally appeared in the 1968 film ‘Live a Little, Love a Little,’ which also starred Presley and for which Strange also composed the musical soundtrack. In 2001, the song was used in the heist film, ‘Ocean’s Eleven’ inspiring a remix by Dutch musician Junkie XL. “A Little Less Conversation — JXL Radio Edit Remix” was officially released in 2002, becoming a worldwide hit that topped the singles charts in nine countries—including spending four consecutive weeks at #1 in the U.K.

As a composer, Strange also worked on the musical soundtrack for the 1969 Elvis film, ‘The Trouble with Girls.’ That film featured the hit song, “Clean Up Your Own Backyard.” Strange also co-wrote “Limbo Rock,” recorded by The Champs and Chubby Checker, which reached #2 on the Hot 100. In addition to the work as a songwriter, Strange played guitar with several major acts including the Beach Boys, Nancy Sinatra, Willie Nelson, Randy Newman, and Nat King Cole.

Strange can also be heard playing for several television theme songs from the 50s and 60s including ‘The Munsters’ (1964), ‘Batman’ (1966), and ‘Have Gun — Will Travel’ (1957). Strange also arranged and conducted several Nancy Sinatra albums, including arranging her single “These Boots Are Made for Walkin,” which reached #1 on the Billboard Hot 100 chart and UK Singles chart. Strange was inducted into the Musicians Hall of Fame as a member of The Wrecking Crew in 2007.

“Billy Strange’s influence is woven into the fabric of American pop culture. ‘A Little Less Conversation’ is one of the most recognizable songs and has influenced popular music since Elvis first sang it in 1968. We are honored to have Strange’s music in our catalog and amplify the mark he left on the world,” adds Reservoir President & COO Rell Lafargue about the acquisition.

An exterior shot of SoFi Stadium, one of the venues that counts as a partner ASM Global parent Legends. Photo Credit: Troutfarm27

The better part of a year (and one Justice Department lawsuit) later, self-described “premium experiences company” Legends has officially wrapped its ASM Global acquisition.

Legends announced the transaction’s completion today, after it and ASM Global inked a related “definitive agreement” in November of 2023. But a quick close wasn’t in the cards; towards the beginning of August, the DOJ formally disclosed the mentioned lawsuit against (as well as a proposed settlement with) Legends.

The government agency pointed to an alleged violation of the Hart-Scott-Rodino Act in the form of “illegal premerger coordination.” Legends, the Justice Department indicated, had allegedly exercised “operational control over aspects of ASM,” referring to venue services for an arena, during the Act’s mandatory “waiting period.”

Terms of the settlement include a $3.5 million penalty, the appointment of an antitrust compliance officer, and related obligations on the part of Legends, according to the DOJ. And while a multimillion-dollar fine is certainly nothing to scoff at, Sports Business Journal has attached a comparatively massive $2.3 billion price tag to the underlying buyout.

In any event, the development has evidently set the stage for the incorporation of ASM Global (itself the result of the 2019 merger of SMG and AEG Facilities) into Legends.

The latter already provides various venue, project, and hospitality services for the likes of SoFi Stadium, the New York Yankees, and Spotify-sponsored FC Barcelona, to name some.

Sixth Street remains Legends’ majority stakeholder “in partnership” with Dallas Cowboys owner Jerry Jones and Yankee Global Enterprises, the owner of the namesake MLB team and more. Meanwhile, ASM Global part-owners Onex and AEG are cashing out of their interests under the deal, with ASM Global poised to continue serving “existing and in-development AEG venues” moving forward.

Furthermore, ASM Global will keep its current name “for the time being,” per Legends, which was founded in 2008 and is touting its reach across the Americas, Europe, Africa, Asia, and Oceania alike.

“The next era of Legends starts now,” Legends CEO (and former longtime Meta exec) Dan Levy communicated. “Over the course of 15 years, we have developed an unmatched solution to deliver a superior fan experience and help our partners grow. We are proud to add ASM Global to deliver even better experiences and value for our global partners, setting the standard in sports and entertainment.”

Photo Credit: Klim Musalimov

Indian label giant Saregama has fully acquired Pocket Aces after spending $20 million in 2023 to acquire 51.82% of the company. It paid around $24.9 million for the last half of the company. Here’s the latest.

Saregama invested in Pocket Aces in September 2023, stating it had plans to invest an additional $1.8 million into the startup. The company said at the time that it planned to expand its stake in the start up and “deferred the future pricing to completion of certain metrics,” a stock exchange filing reads. Now it appears as though Saregama is happy with those metrics—as the company is fully acquiring Pocket Aces.

Pocket Aces produces short-form video content aimed at young Indians, creating over 30 new items each day. The app has seen its popularity surge over the last year, as videos typically have comedic value and feature real-world issues that resonate with viewers. Pocket Aces manages over 100 people in its digital talent stable. Pocket Aces reaches around 50 million viewers weekly and has accumulated more than 700 million viewers monthly.

Saregama India will pay Rs 209 crore ($24.9 million) for the remaining 48.2% stake that it does not currently own. In its annual report, Saregama says it will leverage Pocket Aces Pictures reach to further popularize its music library of over 150,000 songs among the 18-35 audience segment. It will also utilize PAP to create synergies across the artist, influence management, and long-form video creation businesses of the two companies.

“Not only does this [acquisition] bolster our ability to offer bespoke end-to-end services to brands, but also helps us market our own music more effectively,” Saregama says in its annual report. “We can see a change coming in content consumption with a marketed preference for short-form over long-form, Pocket Aces is the secret sauce that will help us transition to this newer form of content.”

Photo Credit: Kakaobank

South Korea’s Kakaobank acquires a 15% stake in music streaming startup PLAM owner Naivy for $680,000.

South Korea’s largest online-only bank, Kakaobank, has acquired a 15% stake in financial technology startup Naivy, in a deal worth $680,000 (908 million KRW.) Naivy is the company behind music streaming app PLAM, which encourages users to listen with virtual coin rewards which can then be spent. The deal brings integration with Kakaobank’s own app.

“We decided to invest in Naivy to support fintech startups with outstanding technology,” said a spokesperson for Kakaobank.

After listening to songs and leaving short reviews, users will receive 10 or 20 KRW per song directly into their Kakaobank account, with no additional app installation required. Naivy’s service will be integrated directly into Kakao’s banking app, enabling users to access the music service through a tab within the bank app.

It’s an interesting concept, to be sure: a music service offered inside a mobile banking app, with financial rewards for listening activity. It will be interesting to see if such a niche concept might catch on in the broader technology sector, with South Korea leading the way.

Kakaobank has a history of investing in fintech startups and integrating their services into its banking app, providing support for these startups while enhancing its own app with service diversification. In 2023, Kakaobank gained a 15% stake in Nulleesoft, which operates SSEM, an algorithmic tax reporting service, and integrated its tax inquiry and reporting service into Kakao’s banking app.

“We will continue working to create a convenient and secure financial service environment based on mutual growth,” says the Kakaobank spokesperson.

Kakaobank is the internet banking branch for the South Korean online giant Kakao, which has its fingers in an array of musical pies across its varied subsidiaries. They include streaming service Melon and major K-pop firm SM Entertainment.

James Fauntleroy, who’s sold a publishing catalog interest to HarbourView. Photo Credit: Gizelle Hernandez

HarbourView Equity Partners has taken a stake in the publishing catalog of Mariah Carey and SZA songwriter James Fauntleroy.

Newark-headquartered HarbourView reached out with word of the deal for the music IP of Inglewood-born James Fauntleroy. Said IP refers to “select publishing assets” here, though neither the catalog investor nor the selling party opted to shed light on the exact involved rights.

However, 40-year-old Fauntleroy has penned works recorded by Bruno Mars (“That’s What I Like” and the more recent “Die With a Smile”), Kelly Clarkson (“Einstein”), Rihanna (“Te Amo”), Snoop Dogg (“California Roll”), Cardi B (“Please Me”), Drake (“Finesse”), Justin Timberlake (a number of tracks across The 20/20 Experience and its follow-up), and Beyoncé (“Blow” and “No Angel”), to name just some.

Similarly, HarbourView didn’t publicly reveal the financial terms behind the transaction, but did take the opportunity to note that its overall catalog encompasses north of 29,000 songs between the compositional and recordings sides. Additionally, CEO Sherrese Clarke Soares in a statement touted the career accomplishments of the four-time Grammy winner Fauntleroy.

“James Fauntleroy has made an incredible impact with his contributions across several genres, including Pop, Hip-Hop and R&B,” relayed the HarbourView head. “With a keen ear for creating global hits, he has solidified his position as one of the best singer/songwriters and producers of this generation. We are excited to welcome him to the HarbourView family.”

Meanwhile, the Kingship executive producer Fauntleroy expressed the belief that the sale is opening up new career doors.

“My catalog sale to HarbourView is the culmination of years of work and dedication invested into the creative community and the craft of songwriting,” communicated the 1500 Sound Academy co-founder. “This partnership has already opened up more doors for growth and opportunity for me, and I’m incredibly excited and thankful to enter into this next chapter together.”

All told, HarbourView has since its 2021 debut scored IP deals involving the work of Luis Fonsi, Brad Paisley, Lady A, Blackbear, Christine McVie, and more recently Noel Zancanella. The company, which secured “close to $500 million” in KKR royalties-backed debt financing in March, announced the pact with Zancanella last week.

Despite the other plays (attributable to the likes of Iconoclast and Primary Wave) that have wrapped in the music IP sub-sector as of late, headlines haven’t been entirely positive. In a move that will hardly inspire confidence among prospective catalog sellers, Hipgnosis, having bought Barry Manilow’s work back in 2020, is reportedly suing the singer-songwriter across the pond over a bonus-payments disagreement.

Producer Jon Landau (pictured) has finalized a song-rights deal with Primary Wave. Photo Credit: Primary Wave

Primary Wave has officially invested in the IP of veteran manager and Bruce Springsteen producer Jon Landau.

New York City-based Primary Wave and 77-year-old Landau (not to be confused with the Avatar producer of the same name) reached out with word of the purchase. Extending specifically to “producer royalties and neighboring rights royalties,” the deal includes Landau’s work with Jackson Browne and Bruce Springsteen.

Regarding the latter professional (who’s already coming up on the third anniversary of his catalog sale to Sony Music), Landau has production credits on several Springsteen albums, chief among them 1975’s Born to Run and 1984’s Born in the U.S.A.

Additionally, the all-encompassing agreement extends to Landau’s production work with MC5 (1970’s Back in the USA), Livingston Taylor (an eponymous 1970 debut and the 1971 follow-up Liv), the aforementioned Browne (1976’s The Pretender), and more.

The involved parties opted against publicly disclosing the financials behind the transaction, which was “facilitated” by David Simone and Winston Simone of DSW Entertainment. (DSW’s clients include E Street Band mainstay Little Steven, himself a producer on Born in the U.S.A. and other Springsteen efforts.)

However, Landau in a statement made clear a goal of maintaining a working relationship with Primary Wave.

“I thank all at Primary Wave for recognizing my contributions over the last fifty years and look forward to having an ongoing and productive relationship with them,” said the former Rock Hall of Fame Nominating Committee chair.

And in remarks of his own, Primary Wave global sync president Marty Silverstone touted Landau’s influence and career accomplishments.

“We’re honored to be partnering with Jon Landau and all of the legendary music he helped shape. He’s an influential figure in music, and we’re proud to welcome him to the Primary Wave family,” communicated the Primary Wave exec of nearly 15 years.

Notwithstanding the transaction-volume slowdown hitting the wider IP-acquisition space, Primary Wave has closed a number of investments on the year.

During the past month and change alone, those plays have included a “multi-million-dollar” partnership with Toto founding member Steve Porcaro as well as an investment in the writer and producer shares of “Don’t You (Forget About Me)” producer-songwriter Keith Forsey.

Furthermore, as compiled by DMN Pro’s Music IP Acquisition Tracker, among the other catalog investments wrapped during August’s opening half are Reach Music Publishing’s deal with Wyatt Durrette and HarbourView Equity Partners’ pact with Noel Zancanella.

But the sub-sector hasn’t been without not-so-positive headlines this month, as Hipgnosis, we reported yesterday, is suing Barry Manilow over a contractual dispute. Concrete details about the High Court action are difficult to come by at present.

Nevertheless, it goes without saying that the litigation, set in motion more than four years after Manilow sold his work, may make others think twice about exploring deals with Hipgnosis.

Photo Credit: HarbourView Equity Partners

HarbourView Equity Partners acquires select assets of songwriter Noel Zancanella, who has worked with Maroon 5, Ariana Grande, Adele, and more.

Alternative asset management firm HarbourView Equity Partners has acquired “select producer royalties and music publishing assets” from producer and songwriter Noel Zancanella. Best known for his work with OneRepublic’s Ryan Tedder, Zancanella has long worked as a songwriter and producer across many genres. He has collaborated with artists like Adele, Ariana Grande, Demi Lovato, and Maroon 5.

Zancanella’s songwriting and production credits include OneRepublic’s I Lived, Good Life, and West Coast; Ella Henderson’s Ghost; and Maroon 5’s Maps. In 2015, he was honored with the Songwriter of the Year Award at the BMI Pop Awards. The following year saw him earning a Grammy Award for Album of the Year for his work on Taylor Swift’s album,1989, alongside Swift and Ryan Tedder.

Financial terms of the transaction were not disclosed, but the acquisition further expands HarbourView’s music catalog, which now includes over 29,000 songs between master recordings and musical compositions. Led by its founder, former Tempo Music CEO Sherrese Clarke Soares, the company has been actively acquiring music catalogs and other IP since its inception in 2021. To date, it has acquired over 50 music catalogs.

Other acquisitions made by HarbourView include select songwriting and publishing assets from hip-hop and R&B group/production team Full Force, select publishing assets from country star Kane Brown, recorded music royalties from the estate of Christine McVie, and a share of select recorded music and publishing assets from Pat Benatar and Neil Giraldo.

HarbourView secured around $500 million in debt financing back in March through a private structured arrangement backed by its catalog of music royalties, led by investment giant KKR. Last December, HarbourView expanded its credit facility by $100 million to $300 million, enabling it to buy more music rights.

A live performance from Half Pint, who’s sold a portion of his IP to Iconoclast. Photo Credit: Peter Verwimp

Iconoclast is officially acquiring select IP from “culturally significant reggae artists,” beginning with the work of Half Pint.

The purchasing party just recently reached out with word of the deal, which came to fruition under a partnership with Ujama Designs. Founded by Robert Oyugi, the latter company operates in publishing, recording, live, and other areas across genres including but not limited to reggae.

Now, Ujama Designs, the Ujama News subsidiary of which produces Boulder’s Soul Rebel Festival, says it’s poised to leverage that experience by helping connect Iconoclast with the aforementioned “culturally significant” works.

First up is the IP – referring specifically to publishing and NIL rights – of the “legendary” Half Pint (real name Lindon Andrew Roberts). Among the Kingston-born singer’s works are “Greetings,” “Crazy Girl,” “Mr. Landlord,” “Substitute Lover,” and “Winsome,” to name a few.

While Iconoclast opted against disclosing the agreement’s price tag in its release and when contacted by DMN, founder Olivier Chastan drove home his broader plans to help reggae find new fans on the world stage.

“Working with Robert allows me to reconnect with my long history and passion for Reggae music that started 20 years ago when I worked at VP Records and acquired Greensleeves Publishing,” communicated Chastan, whose company this past March bought Tony Bennett’s catalog and NIL rights.

“Thanks to our partnership with Robert Oyugi and my personal experience,” proceeded the Iconic Artists Group founder, “we hope to further expand into the genre and help Reggae artists in and outside of Jamaica reach a wider audience. I could not ask for a better start than working with Half Pint!”

62-year-old Half Pint, who had been set to perform at the Sierra Nevada World Music Festival in June until the reggae event was shelved “due to extreme financial challenges,” didn’t provide a statement. But Oyugi touted the tie-up between Iconoclast and his own company as “a perfect match for success.”

Iconoclast’s Half Pint IP purchase marks the second catalog deal to this point in August (the other being Reach Music Publishing’s play for a portion of Wyatt Durrette’s work). Overall, however, against the backdrop of an uncertain economy, the end of the Hipgnosis saga, and other factors, IP transactions have been comparatively rare in recent months.

As monitored by DMN Pro’s Music IP Acquisition Tracker, only eight catalog sales have wrapped across May’s start and today. Last year, May alone came close to matching that number (including a deal involving Iconoclast and Major Lazer founder Dave Taylor), and the overall stretch brought north of 30 agreements.

Notwithstanding the material volume slowdown, interest and massive piles of cash seemingly remain available for especially high-profile IP, including the works of Michael Jackson, Queen, and Calvin Harris.