BMG Right Management To Acquire Cherry Lane Publishing
March 26, 2010 at 2:58 PM (PT)
THE WALL STREET JOURNAL is reporting that BMG RIGHT MANAGEMENT has worked out a deal to acquire CHERRY LANE MUSIC PUBLISHING CO. INC., whose catalog includes songs written by the BLACK EYED PEAS, JOHN DENVER and QUINCY JONES. The acquisition will nearly double the size of BMG's catalog, adding 66,000 songs to the 75,000 currently held by the music publisher, which is jointly owned by BERTELSMANN AG and KOHLBERG KRAVIS ROBERTS & CO.
Terms weren't disclosed, but the FINANCIAL TIMES estimated the deal at $85 million.
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