BMG and KKR team up to purchase music rights

New York (AFP) – German music management group BGM announced a partnership with US investment company KKR Wednesday in a move to acquire streaming rights — a new potentially lucrative frontier for investors.  The agreement does not mean the creation of a new joint company nor the acquisitions of any stakes, the two entities said in a statement.  BMG Rights Management was created in 2008 to allow Bertelsmann, its German parent company, to invest in new music rights after the 2007 sale of BMG Music Publishing and its enormous catalog to Universal.  The group already controls the rights of the w…

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