BMI Sells to New Mountain Capital ...Middle East

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BMI Sells to New Mountain Capital
BMI is being sold to a New Mountain Capital-led shareholder group in a deal that is expected to close by the end of the first quarter of 2024, a company spokesperson confirmed with Billboard. While terms of the deal were not disclosed, the buyer announced that as part of the deal BMI’s current shareholders will allocate $100 million of the sale’s proceeds to songwriters and publishers affiliates “in recognition of [their] creativity.” That planned payout will adhere to BMI’s distribution methodologies. The deal still needs to be approved by the broadcaster shareholders that have long owned the performance rights

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