Jay-Z with six bottles of Armand de Brignac in hand. Jay-Z has sold half of his Armand de Brignac champagne (commonly known as “Ace of Spades”) to Moët Hennessy, about 66 percent of which belongs to Paris-based conglomerate LVMH. The 50 percent buyout came to light this morning, in a general release from the Roc […]
iHeartMedia has purchased digital-audio and podcasting technology platform Triton from The E. W. Scripps Company. iHeartMedia announced its $230 million Triton buyout today, via a formal release. Worth noting is that Scripps acquired the digital-audio tech and services company for $150 million in October of 2018, and the just-revealed $230 million sale “is subject to […]
Sony Music has purchased Kobalt’s AWAL label services and distribution company in a $430 million deal. Kobalt and Sony Music unveiled their “definitive agreement,” which encompasses Kobalt Neighboring Rights in addition to AWAL, this morning. As part of the multimillion-dollar purchase, the former Kobalt holdings “will become a new division within SME’s suite of independent […]
Francisco Partners has purchased a majority stake in Native Instruments. Photo Credit: Ricardo Abreu Berlin-headquartered music-hardware company Native Instruments has sold once again, this time to San Francisco- and London-based private equity firm Francisco Partners. Native Instruments and Francisco Partners recently unveiled the sale, which is expected to formally close in 2021’s first quarter, via […]
Tencent Music has dropped over $415 million to acquire Lazy Audio, “a comprehensive audio platform providing entertainment in the forms of audiobooks, Chinese comedy, podcasts and other radio shows.” Shenzhen-headquartered Tencent Music, which owns the QQ Music, Kugou Music, and Kuwo Music streaming services as well as the WeSing karaoke app, unveiled the multimillion-dollar buyout […]
SOCAN’s Toronto HQ Content-identification company Audible Magic has acquired B2B digital-music platform MediaNet from the Society of Composers, Authors and Music Publishers of Canada (SOCAN). SOCAN and Los Gatos, California-headquartered Audible Magic announced the deal this morning, in a general release. For background, SOCAN acquired Seattle-based MediaNet back in 2016, 16 years after it was […]
Photo Credit: Yurii Stupen Gibson acquires Mesa/Boogie in a new deal to bring the boutique amp maker under its umbrella. Mesa/Boogie was founded more than 51 years ago by Randy Smith, the original creator of many circuit designs. He also pioneered the concept of high-gain amps, which have defined the Mesa line. Smith is joining […]
Photo Credit: Derrick Treadwell Vector Capital’s planned acquisition of Muzak parent company Mood Media has officially closed. The San Francisco-based private-equity firm announced last month that it would acquire Houston-headquartered Mood Media, which was founded in 2004 as Fluid Music Canada. Mood Media purchased “elevator music” mainstay Muzak in 2011, for a reported $345 million, […]
VR startup MelodyVR has officially closed its over $70 million purchase of Napster. Napster parent company RealNetworks revealed the completion of the multimillion-dollar transaction – which was initially announced back in August – today, in a general release. London-based MelodyVR paid $70.6 million for the formerly infamous music-sharing platform, including $15 million in cash and […]
Master P. Photo Credit: Mikamote Rapper-entrepreneur Master P and 15-season NBA veteran Baron Davis are reportedly looking to acquire Reebok in a $2.4 billion deal. Master P, whose full name is Percy Miller, recently confirmed to ESPN that he and Baron Davis are engaged in negotiations to acquire Reebok, which Adidas bought for $3.8 billion […]