Royalty Review Council provides Song Catalog Financial Due Diligence Services
Los Angeles, California, August 5, 2010 – Germany-based BMG Rights Management recently acquired music publishers Cherry Lane Music and Stage Three Music, as well as the Adage IV catalog. A private equity joint venture between Kohlberg Kravis Roberts & Co (KKR) and Bertelsmann, BMG Rights Management selected Royalty Review Council to spearhead the song catalog financial due diligence for all three acquisitions.
In the purchase of Cherry Lane Music Publishing, BMG Rights Management added a roster to its catalog that includes Elvis Presley, the Black Eyed Peas, Quincy Jones and the Sex Pistols. The Cherry Lane transaction is the biggest acquisition yet by BMG, providing a major presence in the U.S.
The acquisition of Stage Three Music, the BMG portfolio now features the rights to songs such as Aerosmith’s “Walk this Way” and ZZ Top’s “Gimme All Your Lovin'”.
To enhance the company’s position with synch licensing, BMG also purchased Adage IV, which held rights in well-known pieces such as “Why Do Fools Fall In Love,” “Stay,” and “Little Darling”.
The sizes of the transactions were not disclosed.