Los Angeles-based funding agency Shamrock Capital has acquired a portfolio of movie, tv and music rights from Vine Various Investments Group.
Longtime readers of MBW will keep in mind that Vine is a acquired Exceeded listing 150 Track written by 2020 Grammy Award-winning, multi-platinum promoting producer, songwriter and DJ Calvin Harris. $105 million Harris’ tune combine.
Total, the mix of rights Shamrock acquired from Vine, together with the Calvin Harris catalog, offers Shamrock greater than 550 drama, finish 2,000 TV program time and above 450 tune.
The worth of the deal was not disclosed. Nevertheless, to cite Shamrock companion Patrick Russo, wall avenue journal explain This marks Clover’s largest-ever particular person deal by a vertical content material technique it established practically a decade in the past.
In accordance with Russo, by this wall street journalthe belongings acquired as a part of the Vine deal introduced Clover’s holdings to “greater than 1,000 motion pictures and 3,000 Watching TV far exceeds 20,000 musical work”.
After all, Clover Capital is most well-known for Buy In November 2020, Ithaca Holdings acquired the grasp rights to Taylor Swift’s first six studio albums. $405 million.
January 2023 advertising billboard Studies say Clover – subsequent to universal music group – is one in every of two buyer Dr. Dre’s music belongings have modified palms for a complete of roughly $200 million.
Final February, Clover Upregulate greater than $600 million dedication to its Shamrock Capital Content material Fund III (SCCF III), the third fairness fund for its content material technique.
clover Patrick Russo Clover would use the funds to “exploit traits, modifications and alternatives in world media and leisure,” it stated on the time.
At the moment (February 2023), Shamrock report Together with SCCF III commitments, its content material technique has reached US$2 billion in AUM.
in line with Wall Avenue Journal, Vine Portfolio Transaction Values Shamrock Content material Technique Belongings at Approx. $2.4 billion.
In reference to the Shamrock transaction, an affiliate of Shamrock Capital has entered right into a providers association with HighPoint Media Advisors, a newly fashioned media advisory agency led by former Vine principals Stephen Kovach and Invoice Lambert.
Unrelated and impartial of the Shamrock deal, Vine stated it is going to flip its consideration to the “rising impartial content material manufacturing area”, persevering with to supervise its improvement and manufacturing studios Village Roadshow Leisure Group (VREG) and EuropaCorp.
“As Clover’s content material technique continues to increase, we’re excited so as to add this distinctive portfolio to our present premium content material platform.”
Patrick Krasou’s “Clover”
Discussing the Vine acquisition, Patrick Russo, companion and government committee member at Shamrock Capital, stated: “Jim, Invoice and Stephen have been early movers within the leisure royalty area and over time curated a formidable library of movie and tv titles and Music catalog combos which are timeless and have deep cultural significance.
“As Clover’s content material technique continues to increase, we’re excited so as to add this distinctive portfolio to our present premium content material platform.”
“This acquisition solely strengthens our dedication to the filmed leisure and music industries.”
Jason Sklar, Clover Capital
Jason Sklar, companion and government committee member at Shamrock Capital, added: “We consider in content material for the long run. This acquisition solely strengthens our dedication to the filmed leisure and music industries, and we stay up for working with our key studio and music publishing companions to Maximize the affect and lasting worth of those distinctive items.
“We’re happy to be working with Shamrock on this landmark transaction.”
Jim Moore, Vine Various Investments
Jim Moore, CEO of Vine Various Investments, stated: “We’re happy to companion with Shamrock on this landmark transaction. We consider their skilled administration of those belongings will permit Vine to concentrate on investing in impartial content material creation.
Lampert and Kovacs stated in a joint assertion: “That is an thrilling new relationship for the HighPoint staff, and we stay up for deepening our relationship with Clover Capital as we work with them over the previous decade. Working intently on the enduring portfolio constructed through the years.
Latham & Watkins LLP acted as authorized counsel to Shamrock on this transaction. Salem Companions LLC served as monetary advisor for the transaction, and Paul Hastings LLP and Kirkland & Ellis LLP served as Vine’s authorized advisor. O’Melveny & Myers LLP acted as authorized counsel to HighPoint Media Advisors on this transaction.
Elsewhere in Shamrock, the corporate closed one in June 2021 $1 billion growth fund Known as Clover Capital Progress Fund V, one other fund was raised a month later $400 million Set up a fund to spend money on leisure IP (together with music copyright). additionally proposed $196 million Mortgage constructions offered to mental property homeowners.
Vine was based in 2006 and has invested approx. US$1.3 billion Media and leisure capital has closed over 26 offers up to now.world music enterprise
