GERMANY/US – KKR-backed BMG acquires Crosstown assets

The BMG Rights Management business was launched by international media company Bertelsmann in October last year. Earlier this month, the company announced its joint venture with KKR, which saw the private equity giant take a 51% stake in the business, the remainder held by Bertelsmann.

In the past year, the BMG catalogue has increased from 200 artists to 300 contracts with songwriters and other rights owners. The acquistion of Crosstown, BMG's first of its kind, sees the business add a further 8,000 song rights to its catalogue, as well as rights to new content created through partnerships with writers.

Crosstown was advised by Signal Hill as financial advisor and Faegre & Benson LLP as counsel. BMG was advised by Manatt Phelps & Phillips, LLP and Simpson Thacher & Bartlett LLP as co-counsel.

The transaction is subject to approval under applicable competition laws.

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• Topics
• Expansion
• DACH