News - 04/01/2017

SESAC acquired by The Blackstone Group

SESAC acquired by The Blackstone Group

SESAC (which claims to be the only US-based music rights organization that administers public performance, mechanical, synchronization and other rights all within a single company) has been acquired by private equity funds affiliated with the $35bn-valued Blackstone Group.

Blackstone, which has over $360bn in assets under management, has entered into an agreement to acquire SESAC Holdings from Rizvi Traverse Management.

The transaction is expected to close by the end of the first quarter of 2017. Financial details of the transaction were not disclosed.

SESAC’s 30,000 clients include songwriters and musicians such as Bob Dylan, Neil Diamond, RUSH, Charli XCX (PRS), Zac Brown, Mumford & Sons (PRS), Lady Antebellum, Mariah Carey, Axl Rose, Shirley Caesar, and Robin Thicke.

SESAC Chairman and CEO John Josephson said:

We are excited to partner with Blackstone. The long-term investment horizon of their core private equity platform was especially attractive to us as we seek to execute our company’s growth strategy in our primary performance rights business, as well as mechanical rights, administrative services, multi-rights and multi-territory licensing. Blackstone is acquiring our company with the specific intent of backing the existing management team, and shares our long-term vision for the company with a history of adding value to their portfolio companies as a supportive strategic partner and capital provider. We anticipate a seamless transition in ownership with no disruption to our business activities as a result of this transaction.

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