BMG Rights Management Agrees To Acquire Cherry Lane

BMG Rights Management Agrees To Acquire Cherry Lane

BMG Rights Management Agrees To Acquire Cherry Lane
BMG Rights Management, the Berlin-based joint venture between Bertelsmann and private equity firm Kohlberg Kravis Roberts & Co., has agreed to acquire Cherry Lane Music Publishing. While terms of the agreement were not disclosed, the deal price is reported to be between $85 million and $100 million, according to the Financial Times. The Cherry Lane roster includes GRAMMY winners such as the Black Eyed Peas, John Denver, Quincy Jones, John Legend, Elvis Presley, and will.i.am, among others. (3/26)

Sony Music Cuts Staff
Sony Music Entertainment has cut 20 staff members from Sony Music Label Group, which includes Columbia/Epic Label Group, according to Billboard.biz. This round of layoffs follows the elimination of approximately 100 employees in the past two months at Sony Music Commercial Music Group, the label's global distribution and U.S. sales division, and RCA/Jive Label Group. (3/26)
 

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