RUMOR MILL
Back to Rumor Mill >
Thursday, September 19, 2024

GMR HAS NEW PRIMARY INVESTOR AND $3.3B VALUATION

Irving Azoff's Global Music Rights PRO has a new primary investor in the form of private equity firm Hellman & Friedman, which has valued the company at $3.3b, per a report by Music Business Worldwide.

Following New Mountain Capital's February acquisition of PRO BMI, GMR's previous investor, TPG, has cashed out. Insiders say its return will be far greater than the multiple BMI realized due to the strength of GMR's owned repertoire and lower overhead.

The Azoff family will continue to run and maintain a significant ownership stake in GMR; it's rumored that the family was able to take some chips off the table in the negotiations.

GMR was founded in 2013 and is overseen by CEO Randy Grimmett. The company's holdings include the catalogs of Bruce Springsteen, Harry Styles, Drake, Bruno Mars, Bad Bunny and Pearl Jam.

TAGS: Irving Azoff | Global Music Rights | TPG | Hellman & Friedman
 
BACK TO RUMOR MILL
 
TIKTOK'S OLE OBERMANN: THE HITS INTERVIEW
He makes TikTok tick. (11/27a)
Check It Out Now
THE 2024 HITS LIST TURKEY TROT
...with all the trimmings (11/26a)
Check It Out Now
NEAR TRUTHS: WITCHING HOUR
Casting a spell (11/21a)
Check It Out Now
KENDRICK’S GNX: SONG BY SONG
Looking under the hood of surprise album (11/26a)
Check It Out Now
NEAR TRUTHS: EXPECT THE UNEXPECTED
One name keeps popping up amid the Roan-related speculation. (11/26a)
Check It Out Now
NOW WHAT?
We have no fucking idea.
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
WHO'S BUYING THE DRINKS?
That's what we'd like to know.
 Email

 First Name

 Last Name

 Company

 Country

By clicking submit you are agreeing
to Terms and Conditions