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Downtown Music Holdings Board Exploring Sale
The board of Downtown Music Holdings is exploring a sale of the company, as the distribution and publishing services firm's backer looks to exit.
The board of Downtown Music Holdings, the parent company of independent distributors CD Baby and FUGA as well as a number of other publishing and rights administration businesses, is exploring a sale, sources familiar with the deal tell Billboard. Founded by Justin Kalifowitz in 2007 as a publisher in New York, Downtown quickly grew into a global company with more than 20 offices around the world, and its scale makes it among the more attractive acquisition targets in this segment of the music industry. It has made over a dozen acquisitions in recent years, including the direct-to-creator distributor CD Baby, and the direct-to-business technology and distribution platform FUGA, as well as rights management company AdRev and service providers DashGo, Soundrop, Simbals, Found.ee, Curve and Sheer Music Publishing.
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