By Jem Aswad
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Executive Editor, Music
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Primary Wave Music has announced a “definitive” agreement to acquire Kobalt, one of the world’s largest independent music publishing and technology platforms, from Francisco Partners, creating a company valued at approximately $7 billion. The transaction, announced Monday morning, includes an investment from Brookfield; Variety sources estimate the value of the deal at around $1.5 billion.
The deal will combine two of the largest independent companies in music: Primary Wave as a major assets holder, with partnerships in catalogs ranging from Bob Marley and Prince to James Brown and Britney Spears, and Kobalt as one of the world’s largest music publishers, with a roster that includes, Paul McCartney, Foo Fighters, hitmaker Max Martin and hundreds more. Francisco Partners bought a majority share of Kobalt in 2022.
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