Primary Wave In Talks To Purchase Kobalt Music Group

Primary Wave, the prominent publisher and talent management company, is currently working to acquire the independent rights manager and publisher, Kobalt Music Group. Primary Wave is in negotiations with Kobalt's owner, private equity firm Francisco Partners (FP), on an exact price.

The deal:

• Several potential buyers for Kobalt were lined up, but Primary Wave is the last in the running.

• FP purchased a controlling stake in Kobalt back in 2022.

• At that time, Kobalt was valued at $750 million.

• Primary Wave's purchase of Kobalt could raise that value to $1.5 billion.

• If the deal closes, Primary Wave would control Kobalt’s catalog of 1 million songs from songwriters including Phoebe Bridgers, The Lumineers, Foo Fighters, and Paul McCartney.

• Primary Wave would also own Kobalt’s sister platform, the digital collective management organization, AMRA.

What they said:

• Laurent Hubert, CEO of Kobalt, in a memo to staff: “As one of the most successful independent music companies in the world, it is no surprise that there is ongoing market interest in our business. We have consistently attracted attention, particularly in recent years, reflecting the strength of our platform, our performance, and the value we create for our clients. Let me be clear: our intention is for Kobalt to remain an independently run company, singularly focused on delivering exceptional service for our clients globally."