Juice WRLD and Maluma music rights holder Opus acquired by Litmus Music

Opus Music Group, which owns the rights to the music catalogs of Juice WRLD, Ozuna, Maluma and Rauw Alejandro, has been quietly acquired by Litmus Music.

5 months in the past, advertising billboard report Opus is on the market with an asking worth of $200 million. The identical report quoted sources as saying Opus was working with Raine Group to discover a purchaser.

Now it appears that evidently litmus music, Launching in 2022 By music business veterans Hank Forsyth and Dan McCarroll Associate with Carlyle International Credit score to be the successful bidder.

The message is Confirmed In an replace launched this week charles johnsonManaging Director, Funding Banking, Media, Telecommunications and Leisure Group Belief securities.

In keeping with the newest information from Johnson, Litmus used proceeds from an organization to fund its buy of Opus $400 million Revolving Credit score Facility (from US$250 million) – to this finish truthist In July, he served because the “Left Chief Arranger” and “Chief Bookrunner”.

This replace doesn’t affirm the precise worth of the Opus deal.

“Truist Securities is working carefully with present lenders to fulfill the timeline for completion of the Opus acquisition whereas introducing new issuer-friendly phrases to offer Litmus with the pliability to execute its development plans,” the replace added.

“Truist Securities is working carefully with present lenders to fulfill the timeline for completion of the Opus acquisition whereas introducing new issuer-friendly phrases to offer Litmus with the pliability to execute its development plans.”

Charles Johnson, Truther

New York-based Opus Music Group was based in 2021 and obtained monetary backing from Elliott Administration, an funding agency additionally primarily based in New York. work Obtain a large number of shares The product will reportedly seem in Juice WRLD’s catalog in early 2023, with the deal value as much as 9 figures.

When New York-based Litmus launches in August 2022, Carlyle International Credit score promised a preliminary US$500 million Let the corporate give attention to buying and managing the rights to publish and report music.

Litmus Music’s first deal Already following December 2022 within the type Keith City’s Grasp recording catalog together with ten multi-platinum, platinum or gold licensed studio albums and best hits collections.

Two extra offers have been struck final yr. June 2023, Litmus obtained “Portfolios” from songwriters and producers benny blancomasking what it calls “quite a few multi-platinum hits and a whole bunch of songs.”

Then, in September 2023, Litmus acquired a collection of rights Katie Perry Trade insiders say the deal is value it $225 million, Marks the most important catalog take care of a single artist final yr.

The deal covers 5 studio albums Perry recorded capitol building Albums, together with Grammy-nominated albums Teenage dream.

Litmus now owns the artist’s share in its main royalty revenue, in addition to publishing rights to the albums One of many Boys, Teenage Dream, PRISM, Witness and Smile, all from 2008 to 2020 Issued through the yr.universal music group Proceed to personal and/or management the grasp rights capitol building album).

Information that Litmus is increasing its credit score traces suits a development in current months of massive names within the international music business increasing credit score traces with monetary providers suppliers.

in Could, downtown musica division downtown music holdings, safe different US$500 million credit score capability comes from Financial institution of America Develop providers to unbiased artists and labels.

Downtown stated it initially partnered with Financial institution of America in 2022 US$200 million A credit score facility that gives artists and rights holders with an advance fee in change for “a short-term share of future royalties.”

cobaltOn the similar time, spending energy in March elevated to over $1 billion Go away $450 million revolving credit score line truthist A “syndicate” led by securities.

In December, HarbourView Fairness Companions, led by former Tempo Music CEO Sherrese Clarke Soares, modified a senior secured credit score facility led by Fifth Third Financial institution to purchase extra music rights. Beneath the revised financing association, HarborView’s credit score financing capability is added US$100 million arrive US$300 million (from $200 million).

belief securities Particularly lively within the music business in recent times.

aside from its participation in Cobalt Revolving credit score line in March and Litmus Music credit score line in July, with Truist serving as lead arranger left $400 million credit score amenities safe by canadian Anthem Entertainment March 2021.international music enterprise