Music Industry News

iHeartMedia Purchases Triton From the E.W. Scripps Company in $230 Million Deal

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 […]

Music Industry News

Sony Music Acquires AWAL From Kobalt In $430 Million Deal

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 […]

Music Industry News

Native Instruments Sold Again — Majority Stake Purchased by Francisco Partners

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 […]

Music Industry News

Tencent Music Drops $415 Million to Acquire Lazy Audio

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 […]

Music Industry News

Audible Magic Acquires MediaNet from SOCAN

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 […]

Music Industry News

Mood Media Officially Acquired by Private Equity Firm Vector Capital

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, […]

Music Industry News

MelodyVR Officially Completes Its Napster Acquisition

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 […]