Primary Wave Acquires Major Indie Music Publisher Kobalt [Yahoo! Finance]
Sony Group Corporation American Depositary Shares (SONY)
Company Research
Source: Yahoo! Finance
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. More from The Hollywood Reporter Patti LaBelle Inks Royalty Deal With Primary Wave (Exclusive) SONA Warrior Awards Honor Chappell Roan, Jimmy Jam and Terry Lewis: "Songwriters Are the Backbone of the Music Industry" Daryl Hall and John Oates Legal Dispute Ends in Arbitration “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
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