The Firm is representing Kohlberg Kravis Roberts & Co. L.P. (KKR) in connection with the sale of its stake in music rights management company BMG to Bertelsmann, the international media group. KKR and Bertelsmann have jointly developed BMG into a leading global music company. Following closing, which is subject to satisfaction of regulatory and other customary conditions, Bertelsmann will have full ownership of the company.
BMG is an international group of music companies focused on the management of music rights. BMG covers the entire range of rights administration, development, and exploitation, placing the needs of songwriters and artists at the core of its business model. Since its founding in 2008, BMG has established a presence in eight core music markets and represents the rights of more than a million songs and recordings including Crosstown, Cherry Lane, Stage Three, Evergreen, Chrysalis and Bug in addition to a number of signed prominent artists and songwriters. The company trades under the name BMG Chrysalis in the United States of America, the United Kingdom and Sweden following the acquisition of Chrysalis plc.
The Simpson Thacher team includes: Mark Pflug, Clare Gaskell and Tom Merrifield (M&A); Ian Barratt, Kate Sinclair and Chris Akinrele (Credit); and David Vann, Michael Naughton, Étienne Renaudeau and Kenneth Ehrhard (Regulatory/Antitrust).
