Primary Wave Acquires Major Indie Music Publisher Kobalt
The deal turns Primary Wave into one of the biggest music companies in the business.
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Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment Primary Wave has acquired Kobalt , the companies announced Monday, a major deal in the publishing landscape that turns Primary Wave into one of the most powerful indie music companies in the industry. Neither Kobalt nor Primary Wave disclosed financial details of the acquisition, though Billboard previously reported that the deal could be worth as much as $1.5 billion. The deal is expected to close by the third quarter of this year. Kobalt will remain a separately run company under Primary Wave’s ownership, the companies said, with Kobalt CEO Laurent Hubert continuing to run the publisher. Related Stories Music Patti LaBelle Inks Royalty Deal With Primary Wave Music SONA Warrior Awards Honor Chappell Roan, Jimmy Jam and Terry Lewis: "Songwriters Are the Backbone of the Music Industry" “Over the many years Laurent and I have known each other, I have always been impressed by the remarkable team he has built, as well as the extraordinary growth Kobalt has experienced under his leadership,” Primary Wave CEO and co-founder Larry Mestel said in a statement. “This acquisition will only enhance his efforts to provide creators individualized attention and specialized support at every stage of their journey and to provide a very significant amount of capital to Kobalt for continued growth.” Prior to the Kobalt deal, Primary Wave had already become one of the most prominent music companies in the business as a particularly active player in the catalog acquisition space, purchasing stakes in catalogs from the likes of Stevie Nicks, Bob Marley, Prince and Biggie Smalls among many others. Kobalt started in the early 2000s and subsequently became one of the biggest independent music publishers in the music business, with a roster that includes Andrew Watt...
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