K.K.R.’s BMG Buys 4th Music Publisher
BMG Rights Management, the music publisher backed by Kohlberg Kravis Roberts, continued its shopping spree, announcing Monday that it has bought Evergreen Copyright Acquisitions from investors including the private equity firm Trilantic Capital Partners.
While financial terms weren’t disclosed, The New York Post, which reported the news before the official announcement, said the deal was valued at around $80 million. Trilantic will reinvest part of the proceeds from the sale to take a single-digit stake in Evergreen, The Post said.
The deal for Evergreen marks BMG’s fourth acquisition this year. In March, BMG bought Cherry Lane Music Publishing, followed by Adage IV’s catalog and Britain’s Stage Three Music.
BMG is a joint venture between K.K.R. and Bertelsmann, the German media company.