BMI to be Acquired by New Mountain Capital

The deal, still pending shareholder and regulatory approval, is expected to close by Q1 2024 amidst scrutiny over BMI's transition to a for-profit model.

• BMI, the music licensing agency, is being sold to the private equity firm New Mountain Capital. The deal is expected to close by the end of the first quarter of 2024.
• The sale still needs approval from shareholders and regulatory bodies.
• BMI's transition to a for-profit model has been met with scrutiny from songwriter groups.
• New Mountain Capital plans to invest in next-generation technology platforms and new service offerings to improve royalty collections and customer service.
• $100 million of the sale's proceeds will be allocated to songwriters and publishers affiliates in recognition of their creativity.

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