Francisco Partners is in advanced talks to acquire music-publishing and technology service Kobalt Music Group Ltd., according to people familiar with the matter.
The San Francisco-based buyout firm has been discussing a purchase price of about $750 million to $1 billion, the people said, asking not to be identified because the information is private.
This potential sale has been a long time coming. Kobalt, whose investors have included Hearst Entertainment and Michael Dell’s MSD Capital LP, retained advisers to explore a sale in 2020, Bloomberg News reported at the time. Last year, Kobalt Capital — an affiliate that raises money to buy copyrights — agreed to sell a song portfolio to KKR & Co. and a partner for $1.1 billion.
Read more: BNN Bloomberg
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