{"id":1982576,"date":"2023-07-25T18:52:02","date_gmt":"2023-07-25T22:52:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-music-rights-giant-bmi-in-renewed-talks-to-sell-itself-sources\/"},"modified":"2023-07-25T18:54:18","modified_gmt":"2023-07-25T22:54:18","slug":"exclusive-music-rights-giant-bmi-in-renewed-talks-to-sell-itself-sources","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-music-rights-giant-bmi-in-renewed-talks-to-sell-itself-sources\/","title":{"rendered":"BMI, the exclusive music rights giant, is reportedly in talks to sell itself once again, according to sources."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-music-rights-giant-bmi-in-renewed-talks-to-sell-itself-sources%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1982576&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><strong>By Milana Vinn and Anirban Sen<\/strong><\/p>\n<p><strong>NEW YORK (Reuters) &#8211;<\/strong> \u2063Broadcast Music Inc (BMI), the music rights company representing top songwriters \u2063such as Lady Gaga, \u200dTaylor Swift and Rihanna, is once again exploring \u2062options\u2064 including a \u200bsale after it ditched its non-profit model,\u200b people familiar with the matter \u2064said.  \u200d   <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>BMI has turned to Goldman Sachs Group, the investment bank that also advised it on deal discussions last year, for guidance as it fields interest from potential \u2063acquirers, including private equity firms, the sources said, cautioning that the company may still decide not to sell itself.<\/p>\n<p>The company also explored a\u2063 sale last year \u2063when it was run as a non-profit and handed\u200b the vast majority of its profits to music artists and their publishers.<\/p>\n<p>For interested parties who submitted offers last year, the fact that BMI did not keep more money \u200bfor itself made it more difficult\u2063 to justify the \u200bprice \u2062tag of more than $2 billion that the company was\u2064 seeking, the\u2064 sources said.<\/p>\n<p>BMI reported revenue of about $1.57 billion for the fiscal year that ended on\u2064 June 30, \u200b2022, and paid out about $1.47 billion to its songwriters, composers and publishers, according to its last annual report.  <\/p>\n<p>The company generates about $145 million in 12-month earnings before interest, taxes, depreciation and\u2062 amortization, according to the sources. <\/p>\n<p>The sources \u200dasked \u200bnot to be identified because the matter is confidential. Spokespeople for BMI, which is controlled by several TV networks and radio broadcasters, and Goldman\u2063 Sachs declined to comment.<\/p>\n<p>In a memo to employees last year, <\/p>\n<h3>BMI \u200bChief \u2064Executive Mike\u200c O\u2019Neill<\/h3>\n<p> said it was important for the company to be more commercial going forward. <\/p>\n<p>Since switching to a for-profit model, BMI has \u2062been investing the money it earns to accelerate growth in its business. For\u200c example, it has invested in upgrading technology, launching new offerings, while also setting\u2063 aside money for partnerships\u2063 and acquisitions.  \u200d  <\/p>\n<p>Created in 1939, BMI represents the public performance rights in more than \u206420 million musical works created and \u2062owned by more than 1.3\u200d million songwriters, composers, and music publishers. The songs are licensed to digital streaming services, radio and television stations and other music users.<\/p>\n<p>Under an 82-year-old consent decree with the U.S. Justice Department, BMI \u2062is required to license to anyone upon request, with pricing disputes settled by a \u200bjudge. The Justice Department undertook a review of \u200cits consent decree with BMI, as well as the American Society of Composers, Authors and Publishers (ASCAP), four years ago, but decided to leave\u2064 the arrangements in place.<\/p>\n<p>BMI and ASCAP jointly account for more than 90% of the music licensing \u200dmarket.\u2063 <\/p>\n<p>While the predictable\u2063 royalties generated by these \u2064companies make them attractive \u2063to private \u200cequity firms, buyout negotiations for \u200cthem have been fraught. Michigan\u2019s retirement \u200dsystem explored\u2062 a\u2063 sale of its majority stake in Concord Music Royalties\u2063 last year, but could not \u2062fetch the $6 billion valuation\u2064 it was seeking.\u200d <\/p>\n<p>  (Reporting \u200bby Milana Vinn and Anirban Sen in New York;\u2064 Editing by Nick Zieminski \u200cand Sonali Paul)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/exclusive-music-rights-giant-bmi\/attachment\/file-photo-taylor-swift-performs-at-the-iheartradio-wango-tango\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/exclusive-music-rights-giant-bmi\/attachment\/95th-academy-awards-oscars-show-hollywood\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/exclusive-music-rights-giant-bmi\/attachment\/64th-grammy-awards-show-in-las-vegas-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>The Grassroots activist group FreedomWorks<\/strong> joins members of the\u200d House Freedom Caucus in calling on appropriators and GOP\u200b leadership to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-music-rights-giant-bmi-in-renewed-talks-to-sell-itself-sources\/\" title=\"BMI, the exclusive music rights giant, is reportedly in talks to sell itself once again, according to sources.\">roll back current spending levels<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Catholic activist and president of Saint\u2064 Michael\u2019s media Michael Voris<\/strong> is calling out a Catholic Bishops\u2019 \u2062organization which he says is helping to \u200dfund woke causes <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-proposing-administrative-abolishment-of-ice-report\/\" title=\"Biden Administration Proposing \u2018Administrative Abolishment\u2019 Of ICE: Report\">including illegal immigration<\/a> and restrictions of Second Amendment rights. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>with Teddy \u200bDaniels<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>An Oregon businessman<\/strong> wants\u2063 to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republicans-democrats-h-r-1-is-a-power-grab-would-undermine-states-election-rules\/\" title=\"Republicans: Democrats\u2019 H.R. 1 Is a Power Grab, Would Undermine States\u2019 Election Rules\">hold elected officials accountable<\/a> after \u200cmany businesses suffered lots of damages in the wake of George Floyd\u2019s death.\u200d <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Supantha Mukherjee, Martin Coulter and Sheila Dang (Reuters) &#8211;<\/strong> After 17 years with \u2062an iconic blue bird that came to symbolize the\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>(Reuters) -Logitech International<\/strong> raised its sales and profit outlook for the first half of\u200b the financial year\u200d 2024\u2063 on Tuesday in\u2062 its\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Victor Goury-Laffont (Reuters) \u2013<\/strong> French software maker Dassault Systemes said revenue rose 5% in the second quarter, but shares fell to\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Elizabeth Howcroft LONDON (Reuters) &#8211;<\/strong> Britain\u2019s data \u2062regulator said on Tuesday it will examine\u2064 Worldcoin, a project by OpenAI CEO Sam Altman\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>for advice on potential strategic alternatives, including a possible sale, as it transitions away from its non-profit structure. Representing renowned songwriters like Lady Gaga, Taylor Swift, and Rihanna, BMI is seeking new avenues for growth and profitability in the music rights industry.<\/p>\n","protected":false},"author":66,"featured_media":1982577,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1982576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1982576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1982576"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1982576\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1982577"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1982576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1982576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1982576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}