Morgan Wallen Catalog Acquired by Chord Music
Chord music Partners Acquires Stake in Morgan Wallen’s Music catalog
Table of Contents
- Chord music Partners Acquires Stake in Morgan Wallen’s Music catalog
- Chord Music Partners Acquires Stake in Morgan Wallen’s Music Catalog: Your Top Questions Answered
- What happened with Morgan Wallen’s music catalog?
- How much did Chord Music Partners pay for the stake in Morgan Wallen’s catalog?
- What is Chord Music Partners?
- When did UMG invest in Chord Music Partners?
- What role does UMG play in Chord Music Partners?
- What is the significance of this deal for Big Loud?
- Who were involved in this agreement?
- What happened to KKR’s position in Chord Music Partners?
NASHVILLE, Tenn. (AP) — Big Loud has finalized a deal to sell a minority stake in country music star Morgan Wallen’s master recording catalog to Chord Music Partners, according to a statement released by Big Loud.
Strategic Investment Details
According to Big Loud, the sale represents a “strategic investment” aimed at expanding the label’s global presence and fostering long-term artist advancement.The agreement involved collaboration from various entities, including Republic Records & UMG, PLUS Capital, Eisner, loeb & Loeb, DLA Piper, Dickinson Wright and Armanino.
Purchase Price
The purchase price for the catalog stake is reportedly $200 million.
Chord Music Partners’ Background
Chord Music Partners was established in 2021 through a partnership between KKR and Dundee Partners. In February 2024, Worldwide Music Group (UMG) secured a 25.8% ownership stake in Chord. As part of that transaction, UMG, via Virgin Music Group and Universal Music Publishing Group (UMPG), assumed responsibility for distribution and publishing governance of Chord’s extensive catalog. Following UMG’s investment, Dundee Partners increased its share in Chord to 74.2%, while KKR exited its position. Big Loud entered into a distribution agreement with UMG’s Mercury Records/Republic in March of last year.
Chord’s Extensive Copyright Portfolio
Prior to UMG’s acquisition, Chord Music Partners held rights to over 60,000 copyrights.This vast collection includes interests in popular songs such as Fleetwood Mac’s “Dreams” and “Landslide,” ZZ Top’s “La Grange,” OneRepublic’s “Counting Stars” and “Apologize,” childish Gambino’s “Redbone,” Lauv’s “I Like Me Better,” Kid Cudi’s “Pursuit of Happiness,” John Legend’s “All Of Me,” Maroon 5’s “Girls Like You” and “Sugar,” Beyonce’s “halo,” and Christina Perri’s “A Thousand Years.”
No Immediate Comment
Representatives for Chord Music Partners and UMG have not yet responded to requests for comment.
Chord Music Partners Acquires Stake in Morgan Wallen’s Music Catalog: Your Top Questions Answered
This article answers your most pressing questions about Chord music Partners’ acquisition of a stake in Morgan Wallen’s music catalog. We’ll break down the key details of the deal, providing clear and concise explanations.
What happened with Morgan Wallen’s music catalog?
Big Loud, the label behind country music star Morgan Wallen, finalized a deal to sell a minority stake in Wallen’s master recording catalog to Chord Music Partners.
How much did Chord Music Partners pay for the stake in Morgan Wallen’s catalog?
The purchase price for the stake in Morgan Wallen’s catalog was reportedly $200 million.
What is Chord Music Partners?
Chord music Partners is a company formed in 2021 through a partnership between KKR and Dundee Partners. They invest in music rights.
When did UMG invest in Chord Music Partners?
Worldwide Music Group (UMG) secured a 25.8% ownership stake in Chord music Partners in February 2024.
What role does UMG play in Chord Music Partners?
Following its investment, UMG, through Virgin Music Group and Universal Music Publishing Group (UMPG), assumed obligation for distribution and publishing governance of Chord’s extensive catalog.
What is the significance of this deal for Big Loud?
According to Big Loud, the sale is a “strategic investment” aimed at expanding the label’s global presence and fostering long-term artist advancement. The agreement involved collaboration from various entities, including Republic Records & UMG, PLUS Capital, Eisner, Loeb & Loeb, DLA Piper, Dickinson Wright and Armanino.
Who were involved in this agreement?
The agreement involved collaboration from various entities, including:
Republic Records & UMG
PLUS Capital
Eisner, Loeb & Loeb
DLA Piper
Dickinson Wright
Armanino
What happened to KKR’s position in Chord Music Partners?
Following UMG’s investment, Dundee Partners increased its share in Chord to 74.2%, while KKR exited its position.