BMG To Acquire Cherry Lane Music Publishing April 6, 2010Posted by David W. King in Uncategorized.
BMG Rights Management (BMG) and Cherry Lane Music Publishing have entered into a Definitive Agreement under which BMG has agreed to acquire Cherry Lane. ‘ ‘
Peter Primont, Cherry Lane’s Chief Executive Officer and a significant shareholder in Cherry Lane, stated, “Having already established itself once as a leader in the music publishing industry over several decades, BMG, via its partnership with KKR, has quickly begun to take on a leadership position again on a global basis. We are excited to be part of the team that will continue to grow the business at this important juncture in music publishing’s evolution.” ‘ ‘
BMG’s CEO Hartwig Masuch added, “We chose to acquire Cherry Lane given its highly-regarded, service-oriented approach with its artist/songwriter clients, its extensive catalogue of legendary songs, and its breadth of relationships within the music, television, and filmed entertainment communities.” ‘ ‘
“This acquisition validates the growth story that we set out to build when we launched the innovative BMG partnership with Bertelsmann last year, combining KKR’s capital with BMG management expertise” said Philipp Freise, director at KKR.