KKR, Bertelsmann Plan Music Venture
NEW YORK (Reuters) - Media group Bertelsmann and private equity firm Kohlberg Kravis Roberts & Co are to form a music rights management joint venture, KKR said on Tuesday. The deal, expected to be announced Wednesday, will create a venture 51 percent owned by KKR and 49 percent owned by Bertelsmann, KKR said. Such a deal could be a more efficient way of managing rights under one roof, and would mark a more aggressive push into the music business for the privately held German media giant, which has largely exited the industry.
8 July 2009•2 mins read
