Warner Music Group (WMG) and Providence Equity Partners have plans to invest in recorded-music and music-publishing catalogs via a newly established platform, Tempo Music Investments, which has raised $650 million, with most of the equity coming from Providence.
“More than ever before, the long-lasting value of music is being recognized outside the music industry. We’ll be devoted stewards of these amazing catalogs created by songwriters and recording artists across the globe, and WMG is very happy to be partnering with Providence in this pioneering venture,” said Stu Bergen, CEO, International and Global Commercial Services, Warner Music Group.
Providence Equity Partners is an American global private equity investment firm focused on media, communications, education and information investments. WMG will handle administration for music publishing and distribution for recorded music.
Among the first acquisitions of the venture are selected copyrights of Gra
