Universal Music Group, And Dundee Partners, The Investment Office Of The Hendel Family, Today Announced That UMG Will Acquire A 25.8% Interest In Chord Music Partners For $240M
Portfolio Pulse from Benzinga Newsdesk
Universal Music Group (UMG) is set to acquire a 25.8% stake in Chord Music Partners for $240 million, valuing Chord at $1.85 billion. This deal, advised by Goldman Sachs and others, involves UMG and Dundee Partners forming a strategic partnership to manage and acquire music IP. Chord, established by KKR and Dundee, holds over 60,000 copyrights from top artists. KKR will exit Chord, leaving Dundee and UMG with 74.2% and 25.8% ownership, respectively. The partnership aims to leverage UMG's global network for rights management and future acquisitions.
February 20, 2024 | 5:17 pm
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UMG's acquisition of a 25.8% stake in Chord Music Partners for $240M signifies a strategic expansion in music IP management and acquisition.
UMG's acquisition of a stake in Chord Music Partners represents a significant investment in music intellectual property, which is likely to enhance its global music rights management capabilities. This strategic partnership with Dundee Partners and the acquisition of a vast catalog of music copyrights could potentially increase UMG's revenue streams and strengthen its position in the music industry.
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