Kobalt’s Investment Fund KMC Acquires Nettwerk’s 30-Year Catalog
July 25, 2016 at 3:59 AM (PT)
KMC, an investment fund advised and managed by KOBALT, has acquired a significant portion of THE NETTWERK MUSIC GROUP publishing catalog, including more than 18,000 songs developed and acquired by NETTWERK over the last 30 years. As a subsequent component of the acquisition, KOBALT has also entered an exclusive administration agreement to administer NETTWERK’s retained publishing titles and all future publishing signings. The respective agreements include all territories under the songwriter agreements acquired by KMC.
KMC CEO JOHAN AHLSTROM stated, "Today’s announcement is a perfect example of the caliber of talent we are investing in here at KMC and we are thrilled to be working with this impressive catalog.”
KOBALT Founder/CEO Willard AHDRITZ added, “I am excited that KOBALT will be servicing KMC's new acquisitions of NETTWERK copyrights with so many great writers and works in their catalog. TERRY has built a great company and I’m thrilled to welcome him and his team into the KOBALT family.”
NETTWERK MUSIC GROUP Chairman/CEO Terry McBride noted, "In a digital world where streaming has become the predominant way we consume music, it is important that our artists are partnered with the best technology company in the publishing space to see the full value of their creations. KOBALT simply is the best, and also the most transparent. We are very happy KOBALT will be the new home to NETTWERK's 30+ years of legacy, as well as our partners moving into the future."