NEW YORK (CelebrityAccess) — Kobalt Music Group Ltd, one of the largest independent music publishers in the world, is reportedly weighing a potential sale.
According to Bloomberg, Kobalt and its assets could be worth as much as $1 billion, and the sale could attract interest from major labels such as Sony, Warner Music, and Universal.
The sale could also be pursued by private equity and digital service providers such as Spotify and Apple Music.
Kobalt currently represents more than 25,000 songwriters, 600 publishers, and a roster of more than 20,000 artists that includes Paul McCartney, Roddy Ricch, The Weeknd, Stevie Nicks, and the estate of Elvis Presley.
Kobalt also operates AWAL, an distributor for indie labels.
According to Bloomberg, Kobalt’s plans for the sale aren’t final and the publisher might seek to raise additional capital instead.