Warner Music Group, Providence Equity Partners Team To Buy Music Publishing Catalogs

Buying Publishing Catalogs

WARNER MUSIC GROUP and PROVIDENCE EQUITY PARTNERS are partnering in a new platform, TEMPO MUSIC INVESTMENTS, to buy music publishing catalogs. The new firm will launch with $650 million in equity and debt capacity, with PROVIDENCE providing most of the equity and WMG handling administration for music publishing and distribution for recorded music. INFLUENCE MEDIA PARTNERS, a new management company, is being used to find investment opportunities. TEMPO is launching with the acquisition of selected copyrights of songwriters JEFF BHASKER, SHANE MCANALLY and BEN RECTOR.

WMG CEO/International and Global Commercial Services STU BERGEN said, “More than ever before, the long-lasting value of music is being recognized outside the music industry. We’ll be devoted stewards of these amazing catalogs created by songwriters and recording artists across the globe, and WMG is very happy to be partnering with PROVIDENCE in this pioneering venture.”

PROVIDENCE Managing Dir. JOSH EMPSON added, “It is a privilege to partner again with WARNER MUSIC GROUP. We are excited about this innovative new relationship, which combines PROVIDENCE’s investment expertise in media with WMG’s distinctive skill in working with and recognizing top artists and assets in music. We look forward to partnering with WMG and our investment management team to support creators and build a best-in-class portfolio of music assets.”

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