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…
Thursday Round Up: John Boyle Named President of Hello Music & BMG Rights Buys Stage Three Music
Hello Music, the online music company that launched at the beginning of 2010 with the goal of connecting artists with opportunities from partners including Slacker, Topspin, TuneCore and Yahoo! Music, has named John Boyle as president. Boyle’s music pedigree includes founding and producing the highly successful Snocore Tour, executive roles at Giant Records, Virgin and Warner Bros. Records, as well as forming his own management company The BAM Group…
Elsewhere, BMG Rights Management is said to be buying London-based Stage Three Music. The joint venture formed by Kohlberg Kravis Roberts & Co and Bertelsmann will buy the publishing company from shareholders, private equity firm Apax Partners, venture capital fund Ingenious Ventures and management. The deal includes rights to songs such as Aerosmith’s “Walk this Way” and ZZ Top’s “Gimme All Your Lovin” - it also adds to the growing number of acquisitions made by BMG RM in the last year…
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