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Universal Music Group on Tuesday said it would buy a 25.8% stake in Chord Music Partners for $240 million in a deal that will see investment company KKR exit from the capital of the music catalogue...
Universal Music Group has paid $240 million for a minority stake in Chord Music Partners.
Universal Music bought a stake in the Chord Music Partners catalog featuring Beyonce songs and more, including tracks from Fleetwood Mac and Maroon 5.
According to the terms of the deal, UMG will acquire a 25.8 percent stake in Chord for $240 million while the Dundee consortium will take the remaining 74.2 percent stake.
(Reuters) - Universal Music Group on Tuesday said it would buy a 25.8% stake in Chord Music Partners for $240 million in a deal that will see investment company KKR exit from the capital of the music catalogue owner. KKR will sell its majority stak...