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Universal Music Group Acquires $240M Minority Stake in Chord Music Partners

Universal Music bought a stake in the Chord Music Partners catalog featuring Beyonce songs and more, including tracks from Fleetwood Mac and Maroon 5.

With the leadership of Jody Gerson at UMPG, Nat Pastor and JT Myers at Virgin, and the support of our experienced creative executives around the world, no one can do more with music rights than our teams. And finally, it offers us the perfect partner to approach future growth opportunistically and flexibly, one who is equally bullish on the long-term prospects for music.” “We are grateful to have had the opportunity to collaborate with many leading artists and to create significant value for our investors by building Chord into a differentiated and scaled portfolio,” said Jenny Box, partner at KKR.

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