Kobalt Music Responds to Sale Rumors With a Long ‘Maybe’

Music publishing giant Kobalt, whose roster includes Paul McCartney, The Weeknd, Dave Grohl, Childish Gambino and Lorde, responded to sale rumors that broke into the open on Wednesday evening with a wordy “maybe.”

“We’ve always had great interest in the company,” a rep for Kobalt said in statement. “We’re always evaluating the best capital structure for the business to make sure we have the right capital partners to continue to build and grow the world’s best independent company for artists and songwriters.”reported Wednesday that the company is “working with advisers to explore strategic options including a potential sale,” citing sources as saying it could be valued at more than $1 billion.

The rumor is the latest in the song-catalog boom of the past few years, which has seen companies like SONGS Music sold for a reported $150 million — to Kobalt, as it happens — and fast-rising newcomer Hipgnosis investing more than $1 billion in catalogs in less than two years. Kobalt’s likely suitors would seem at first to be the three majors, Sony/ATV, Universal and Warner, and Hipgnosis. However, Hipgnosis last week acquired the indie publisher Big Deal — incuding its infrastructure and 35 staffers — and for the majors the complexity and expense of merging with a company the size of 20-year-old Kobalt, which has more than 700 employees in 12 offices across the globe and represents some 25,000 songwriters, could be a deterrent.

Kobalt was founded in Sweden by Willard Ahdritz with a proudly stated emphasis on technology, timely payments and transparency in a business that has not traditionally been renowned for those qualities. The company has risen to become one of the world’s largest publishers, and sale rumors picked up in January when Ahdritz shifted from CEO to chairman.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kobalt Signs Pulitzer Prize-Winning Playwright Michael R. Jackson to Publishing Deal (EXCLUSIVE)Kobalt has signed Pulitzer Prize winner Michael R. Jackson to a global publishing deal. The company will handle the playwright, composer, and lyricist’s publishing administration, creative se…
Source: Variety - 🏆 108. / 63 Read more »

Kanye West Insists on Black Ownership of Music Masters in New RantYe proved to be quite the early riser on Wednesday to air more grievances about Black ownership. He’s not ranting. Disrespectful This tweet is anti black He is a Racist and I can see divorce papers being served soon the guy has gone
Source: TMZ - 🏆 379. / 59 Read more »

WSJ News Exclusive | Amazon Music Joins Podcasting FrayThe company is looking to attract new listeners with a roster of 70,000 titles including originals from DJ Khaled and Dan Patrick. No thanks, amazon can go away now. He has enough money and has bought a paper and enough power.
Source: WSJ - 🏆 98. / 63 Read more »

ACMs 2020: See Every Star Arriving at the Academy of Country Music AwardsDan + Shay, Florida Georgia Line, Jimmie Allen and Tenille Townes are on the ACMAwards red carpet! 😍 See every arrival here: Taylor queen
Source: people - 🏆 712. / 51 Read more »

A conservative legal gadfly faces the musicLarry Klayman pioneered the slash-and-burn legal tactics that have become an endemic feature of American politics. Now, he faces the prospect of his own professional demise. 🙄 The right has given us ideals associated w/Judicial Watch, Breitbart, ALEC, Moral Majority, Limbaugh, Jones, Tea Party, white supremacists, etc. The left has given us ideals associated w/Civil Rights, Medicare, Social Security, equal pay, LGBTQ protections, etc. You decide. Live by the sword...
Source: politico - 🏆 381. / 59 Read more »

ACM Awards brings live country music back to TV amid pandemicWhether they're a guitar tech, a grip, an artist or a producer, everyone who enters any of their venues has to take a Covid-19 test, wear a mask and get their temperature checked.
Source: trtworld - 🏆 101. / 63 Read more »