Earlier this week, we reported on speculation that Kobalt was in the late stages of negotiations to sell its Kobalt Music Royalty Fund II catalogue for around $1bn. Investment firm KKR was highlighted as the most likely buyer – or at least part of a group likely to buy the catalogue. Now there is more information on that potential deal.
The Financial Times reported that KKR will lead a consortium to buy the catalogue for around $1.1bn, with the family office of former Goldman Sachs partner Stephen Hendel also involved.
“Negotiations were advanced and a deal could be announced as soon as this week,” claimed the FT, adding that bids had also been made for the catalogue by a group led by Apollo Global Management (the company that has just ponied up $1bn for HarbourView Equity Partners to spend on music and media rights), and by Eldridge Industries.
Meanwhile, another piece of speculation from earlier this month has come true: investment firm Blackstone and Hipgnosis Song Management have confirmed their own billion-dollar partnership for acquiring rights and managing music catalogues.
Tools: platforms to help you reach new audiences
Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…