Here comes the music business’s latest nine-figure sale.
Historic independent publisher Carlin America Inc. is to be sold to Round Hill Music in a deal approaching $250m.
The news was first reported by Bloomberg and has been corroborated by MBW sources.
The agreement – thought to be for a likely sale price between $240m and $250m – remains subject to closing.
It is expected to be finalized next month.
The news comes three months after another independent publisher, Imagem Music Group, was sold to Concord Music for $500m+.
Other major music business M&A deals this year include Warner Music Group’s acquisition of record label Spinnin’ Records for over $100m earlier this month.
And, back in January, BMG finalized a $103m buyout of Nashville-based Broken Bow Label Group.
In total, these four 2017 deals (Carlin, Imagem, Spinnin’ and Broken Bow) will have seen over $1bn change hands within the same 12 months.
Round Hill Music is a US-based private equity firm focused on both recorded and publishing music copyright assets.
It launched in 2011 and has since raised more than $200m.
Over the past six years it has acquired songs by artists including The Beatles, Katy Perry, Bon Jovi, The Rolling Stones, The Offspring and Frank Sinatra.
Carlin’s catalogue of more than 100,000 songs includes classic hits recorded by the likes of Elvis Presley, AC/DC and Billie Holiday.
Source : Music Business Worldwide