Primary Wave buys music publisher Kobalt
Primary Wave founder Larry Mestel and Kobalt CEO Laurent Hubert discussed the acquisition in an exclusive Billboard interview. Billboard puts the deal’s value at well over $1 billion.
In this article
Primary Wave has bought Kobalt, combining its business of acquiring older music catalogs with an independent publisher focused on current music. Music publishing is the part of the industry that works with songwriters.
Primary Wave founder and CEO Larry Mestel and Kobalt CEO Laurent Hubert discussed the completed acquisition in an exclusive interview with Billboard, which put the deal’s value well over $1 billion. The executives did not disclose that valuation in the interview excerpts.
Investment and management
Mestel said Primary Wave offers catalog owners services that include producing biographical films, documentaries and Broadway shows.
Jamieson, which advised Kobalt’s management on the sale, said the transaction includes an investment from Brookfield, a strategic partner of Primary Wave. Jamieson also advised Hubert and his management team on their reinvestment in the new structure and the terms of a new equity incentive plan.
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