BMG Rights Management to Acquire Two U.S. Companies Before Years End, CEO Says
BMG Rights Management Chief Executive Officer Hartwig Masuch has announced that the Bertelsmann AG and KKR backed publishing venture will acquire two more U.S. companies before the end of the year. Each purchase will be in the range of 50 million to 80 million Euros and the first acquisition is expected to be complete within 6 weeks, the CEO revealed in London on Wednesday night. Most recently the company bought UK publisher Stage Three Music and before that the U.S. publishing company Cherry Lane Music… With the purchase size indicated by Masuch, the names of a few likely U.S. pubcos are being thrown around as seriously in play. Stay tuned…
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Over the last year BMG Rights Management, the publishing entity backed by German media giant Bertelsmann (who recently celebrated its 175th anniversary) along with investor KKR, has been busy buying catalogs and publishing companies in Europe and increasingly in the U.S.. So far acquisitions in the U.S. include Crosstown Songs America, Adage IV and Cherry Lane Music Publishing – the latter being their largest acquisition to date. Speculation of the company’s interest in EMI Music Publishing has continued to varying degrees for nearly as long as the new entity has existed, but with Terra Firma’s recent inflow of investor cash, some are questioning whether action will be taken any time soon. Regardless of a move on EMI, insiders share that BMG RM will continue its aggressive acquisitions, with a particular eye on prominent independent publishers… Elsewhere KKR has had its own spotlight recently, with multiple reports of their interest in talent powerhouse CAA and a new listing on the New York Stock Exchange beginning next week, analysts perceive eagerness among U.S. investors for the firm’s arrival. Stay Tuned…
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