BMG/KKR buys Cherry Lane

BERTIE’S BACK: BMG Rights Management has finalized its acquisition of indie pubbery Cherry Lane Music for an undisclosed amount of money. Some believe the selling price was in the neighborhood of $150 million. Said Cherry Lane CEO Peter Primont: “Having already established itself once as a leader in the music publishing industry over several decades, BMG, via its partnership with KKR, has quickly begun to take on a leadership position again on a global basis. We are excited to be part of the team that will continue to grow the business at this important juncture in music publishing’s evolution.” Added KKR’s Philipp Freise: “This acquisition validates the growth story that we set out to build when we launched the innovative BMG partnership with Bertelsmann last year, combining KKR's capital with BMG management expertise.” (3/26a)