MEDIA AND BROADCASTING

The productisation of music rights

| June 4, 2021

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News that New York-based Pershing Square Tontine Holdings is planning to acquire 10% of UMG is the latest in a wave of financial transactions in the music rights space. Alongside this, Believe’s impending IPO has the potential to be one of the biggest things to happen to the independent music sector in some time, and comes as part of a wave of IPOs (e.g. WMG, UMG), SPACs (e.g. Anghami, Reservoir) and no end of catalogue funds and acquisition vehicles. This trend, with good cause, has been referred to as the ‘financialisation of music’ but that only captures part of what is at play here. This is more than simply an influx of capital and debt; financial institutions are now becoming part of the plumbing of the music business, and in turn they are changing the definition of what constitutes success. This shift in objectives and desired outcomes has the potential to rebalance how the music industry operates.

Spotlight

Sinclair Broadcast Group

Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the country. Sinclair owns and operates, programs or provides sales services to more television stations than anyone and has affiliations with all the major networks. In addition, Sinclair is the leading local news provider in the country, as well as a producer of sports content. Sinclair owns a multicast network, four radio stations and a cable network. Sinclair’s broadcast content is delivered via multiple-platforms, including over-the-air, multi-channel video program distributors, and digital platforms. Sinclair, either directly or through its venture subsidiaries, makes equity investments in strategic companies. Sinclair Broadcast Group, Inc. was founded in 1986, went public in 1995 and is traded on the NASDAQ Global Select Market under the ticker symbol SBGI.

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Sinclair Broadcast Group

Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the country. Sinclair owns and operates, programs or provides sales services to more television stations than anyone and has affiliations with all the major networks. In addition, Sinclair is the leading local news provider in the country, as well as a producer of sports content. Sinclair owns a multicast network, four radio stations and a cable network. Sinclair’s broadcast content is delivered via multiple-platforms, including over-the-air, multi-channel video program distributors, and digital platforms. Sinclair, either directly or through its venture subsidiaries, makes equity investments in strategic companies. Sinclair Broadcast Group, Inc. was founded in 1986, went public in 1995 and is traded on the NASDAQ Global Select Market under the ticker symbol SBGI.

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