The board of directors of the music royalty fund say they would switch their support from Concord's bid to the private equity giant's offer if Blackstone makes it official.
The private equity firm offered $1.24 per share, versus Concord's $1.14 per share offer issued on Thursday (April 18).
The year saw K-pop companies making mega moves on a global scale, while the catalog market remained hot.
Meanwhile, Sony sweeps all three Publishers Quarterly categories for Q3 2023, while Warner Chappell jumps to second place on Hot 100.
“As institutional investors, it comes down to what is your time horizon?” says Concord CEO Scott Valentine.
With tracks by REO Speedwagon, KISS, and more, the MOJO catalog contains shares of 89 Billboard No. 1 hits.
The deal would pay investors $1.15 a share and give Concord access to a catalog of 150,000 songs.
The new imprint will focus on emerging artists and existing acts with Pulse ties.
The National Music Publishers' Association has elected a new board, including newcomers Laura Veltz and Jeff Pachman.
Also this week: Downtown names a president of artist & label services, BMG taps a president of Australia/NZ/Southeast Asia and more.
