Kobalt Sells KMR Music Royalties II Catalog To KKR For $1.1 Billion

$1.1 Billion Deal

KOBALT CAPITAL has sold its KMR MUSIC ROYALTIES II portfolio to KKR and its CHORD MUSIC GROUP, a joint venture of KKR and DUNDEE PARTNERS, for about $1.1 billion. The catalog contains over 62,000 copyrights.

The works include those from THE WEEKND, LORDE and RYAN TEDDER. A multiyear agreement has KOBALT MUSIC PUBLISHING continuing to administer and service the works in the portfolio.

This new KKR venture, CHORD, is separate from a deal with BMG that was announced in APRIL 2021.

MUSIC BUSINESS WORLDWIDE has more.

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