Report: Kobalt Buys Songs Publishing

Reported Buys Songs Publishing

THE NEW YORK TIMES is reporting SONGS MUSIC PUBLISHING, "a 13-year-old company that has made itself a contender by signing songwriting deals with young hitmakers like LORDE, DIPLO, DESIIGNER and DJ Mustard, has agreed to sell its assets to KOBALT, which has challenged the major music publishers through aggressive deals with writers."

No price for the deal was disclosed, but sources estimated the price at about $160 million.

KOBALT Founder WILLARD AHDRITZ told THE TIMES that SONGS Founder MATT PINCUS, “has built a remarkable company with a combination of great creative vision and a deep business understanding. The results are an extraordinary music publishing company.”

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