The deal includes part of the reggaetón superstar’s rights to “Gasolina,” “Con Calma” and his rights as a featured artist on “Despacito.”
The iconic singer-songwriter has a friend in the Carlyle-backed rights company.
Sources previously told Billboard that the band was seeking $1.2 billion for the assets.
This paves the way for Blackstone to add the London-listed catalog company to SESAC, MNRK and other music companies in its portfolio.
The late producer’s catalog includes megahits “Te Boté” and “La Jeepeta.”
The late producer’s catalog includes megahits “Te Boté” and “La Jeepeta.”
The Nasdaq-traded company, which went public through a SPAC merger in 2021, plans to raise $100 million in a secondary offering.
Since its 2021 launch, the Korean firm has almost exclusively invested in Asian catalogs.
Private equity isn’t wrecking the industry. But investors own rights to music by Stevie, Whitney, and now Cyndi Lauper. How much will that change things?
A New York Times opinion piece bemoaned the rise of private equity purchasing older music catalogs, saying it’s “destroying our music ecosystem.” But that’s hardly the problem.
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