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BMI Sale to New Mountain Capital Is Now Complete

BMI's sale to New Mountain Capital has been completed, with president and CEO Mike O'Neill to remain in charge of the PRO.

New Mountain Capital has closed its acquisition of BMI and while the price has not been disclosed, the deal will eventually lead to a $100 million payout from the proceeds to affiliates — songwriters and publishers — of the performance rights organization. With their support, advanced level of innovation and resources, we are now in the best possible position to accelerate our growth plan and explore new opportunities to benefit our creative community.” The acquisition is not without controversy as BMI has switched its model from a not-for-profit to a for-profit basis, a move that has caused concern among songwriters and publishers.

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