(CelebrityAccess) — Private equity giant Blackstone is reportedly considering a sale of music assets of the SESAC Music Group in a deal that may be worth as much as $3 billion or more.
According to Bloomberg, Blackstone has been shopping music assets from SESAC, including music from ob Dylan, Adele and Ariana Grande, among others.
Sources with knowledge of the negotiations told Bloomberg that potential suitors include Apollo Global Management Inc., Warburg Pincus LLC and Temasek Holdings Pte, Singapore’s state-owned investment firm but said talks for a potential sale are still in early days.
Blackstone acquired a majority stake SESAC from Rizvi Traverse Management in 2017 for a reported $1 billion, a marked increase from the reported $600 million Rizvi Traverse reportedly paid for a 75% stake in SESAC in 2013.
