BMG and investment firm KKR are no strangers: KKR was the music company’s joint owner until 2013, when its share was bought out by co-owner Bertelsmann. Eight years later, BMG and KKR are working together again, or as they put it, joining forces “to pursue recorded music, music publishing and other music rights acquisitions”.
The companies stressed that this is not a joint venture, nor will it involve KKR taking any equity stake in BMG.
The partnership will beef up BMG’s wallet for acquisitions, at a time when the likes of Hipgnosis Songs Fund, Round Hill Music and others are continuing to pay top dollar for music rights. KKR is already involved in this space, having acquired a majority stake in songwriter Ryan Tedder’s catalogue in January this year.
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