Consortium eyes rights to music of Lorde, The Weeknd

Romar Fernando

November 3, 2021

• 

  Photo Credit: AFP via Getty Images

  A consortium is nearing a deal to buy the rights to music by artists Lorde and The Weeknd, October 13, Wednesday.

  The private equity giant KKR & Co. has led the consortium where the investor group with a majority stake and the family office of Stephen Hendel, are going to close a deal to buy the catalogue for $1.1 billion from the music company Kobalt.

  Reports also said that the catalogue had also attracted bids from an Apollo-backed consortium and Todd Boehly’s Eldridge Industries. The deal comes as private equity groups have invested billions in the music industry, as they search for places to allocate capital in an ultra-low interest rate environment.

  The KKR and Kobalt have declined to comment on the development of the deal. The deal for the catalogue could be announced on the following weeks.

• COMMENTS