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.
Also this week: Live Nation and Oak View Group partner on a historic Nigeria arena, Warner Music Group expands its partnership with an India-based label and more.
Higher interest rates pulled valuations down while streaming and publishing growth pushed valuations higher, according to a report from Shot Tower Capital.
The deal covers “select” assets from the country star.
“As institutional investors, it comes down to what is your time horizon?” says Concord CEO Scott Valentine.
After trading at a deep discount to net asset value, the sale would be a win-win for buyer and seller (and for a major competitor, too).
Also this week: Reservoir and PopArabia buy the RE Media catalog, Timbaland acquires a stake in lifestyle and vinyl brand 12on12 and more.
Irving Azoff’s company acquires the legend’s interest in her past sound recordings and compositions.
The multi-platinum producer sold copyrights to hits recorded by Rihanna, Maroon 5, Justin Bieber, Shawn Mendes and Camila Cabello.
The deal also includes the majority of the song catalog of his son, Grammy winner Gary Scruggs.
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