Overview
- WMG and Bain each committed equal equity to back up to $1.2 billion in recorded music and publishing catalog purchases.
- WMG will oversee all marketing, distribution and administration for the joint venture’s acquired catalogs.
- Goldman Sachs and Fifth Third Bank will serve as joint lead arrangers for the venture’s financing.
- The move underscores a sustained appetite for high-value catalog deals following major transactions by Sony and Primary Wave.
- WMG has also initiated a $170 million restructuring to reallocate savings toward artist development and further catalog acquisitions.