Digital Music News: Kobalt Ready To Field Offers For Company?

Kobalt: On The Market?

Fresh after dealing off AWAL and its NEIGHBOURING RIGHTS divisions to SONY MUSIC ENTERTAINMENT, KOBALT MUSIC is in "advanced talks" to sell the rest of its company, according to a report in DIGITAL MUSIC NEWS. 

FRANCISCO PARTNERS is discussing a $750 million to $1 billion buyout of the 22-year-old publishing company, according to BLOOMBERG. None of the parties has so far commented on the speculation.

Performance rights organization BMI reportedly abandoned its GOLDMAN SACHS hunt for a multibillion-dollar sale, with a requested sale price of up to $3 billion. 

CONCORD also reportedly turned down acquisition offers. On the catalog side, 2022’s initial eight months have slowed down the rush to acquire after two years of high-stakes purchases.

Speculation now centers on PINK FLOYD's catalog, one of the last of the unacquired properties, with reports it could bring in $500 million.  BMG and MATT PINCUS' MUSIC IN MAY are also earmarking funds for acquisitions, while CINQ MUSIC received a $100 million capital injection, and LITMUS MUSIC launched with $500 million in the bank about three weeks ago.

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