Report: BMI Hires Outside Advisors To Evaluate 'Strategic Opportunities'

Mulling Its Options

A letter from Pres./CEO MIKE O'NEILL to his staff at BMI revealed that the performing rights organization has hired outside advisors to look at unspecified "strategic opportunities" for the company's future.

VARIETY reports that the letter told staffers that "we are in an unprecedented time full of opportunity. It’s important that we evaluate what this could mean for BMI, both now and into the future. In order to do that, we have hired outside advisors to help us explore strategic opportunities that could further grow the value of our affiliates’ music and our business." He added, "Growth for our songwriters, composers and publishers has always been our top priority, and we’re excited to explore ways to continue that momentum. While it’s too early to speculate on what might happen, we’re looking at all our options as long as they advance this mission."

The letter did not indicate whether the options considered would include a sale or merger, but concluded, "Exciting times!"

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