BMG Set To Acquire Bug Music
September 12, 2011 at 6:45 AM (PT)
BMG RIGHTS MANAGEMENT (BMG) and SPECTRUM EQUITY INVESTORS (SPECTRUM) announced TODAY (9/12) that BMG will acquire BUG HOLDINGS, INC. and its subsidiary, independent music publisher BUG MUSIC, INC. BUG MUSIC was founded in 1975 and is headquartered in LOS ANGELES. BUG MUSIC currently owns and/or manages copyrights for hits such as "Fever," "What a Wonderful World," "I Walk the Line," "Summer in the City," "The Real Slim Shady," "Who Are You?," "Under the Boardwalk" and "The Passenger."
BUG MUSIC’s clients include the estates of JOHNNY CASH, WILLIE DIXON, MUDDY WATERS, WOODY GUTHRIE, DEL SHANNON AND STEVIE RAY VAUGHAN and current artists like IGGY POP, KINGS OF LEON, RYAN ADAMS, WILCO AND THE NATIONAL.
"With the acquisition of BUG MUSIC and its vast collection of evergreen and contemporary compositions, BMG further establishes itself as a leading music rights management company," said CEO of BMG HARTWIG MASUCH. "We look forward to working with BUG MUSIC’s exceptional roster of artists and songwriters."
Financial terms of the transaction, which is expected to close by OCTOBER, were not disclosed.