NEW YORK (CelebrityAccess) — Independent music publisher SONGS Music Publishing, home to songwriters such as Lorde and The Weeknd, is up for sale.
News of the interest in a sale was first reported by Hits. According to Billboard, SONGS has retained LionTree Advisors to oversee the sale and the company's founders and principals are seeking bids north of $160 million.
Billboard reported that SONGS produced just under $8 million in net publisher share in 2016 and is projecting their net publisher's share to top $12 million in 2012.
While SONGS has a top end roster of songwriters, including Miike Snow, Desiinger, Nelly, Galantis, and RL Grime, they are entering a crowded market, with other major music publishers such as Carlin Music and Ole also on the block and looking for buyers.
According to Billboard, sources with knowledge of the matter said the team at SONGS decided to test the market for a sale after it received a buyout offer, but would only consider a sale if the right deal comes into view.
SONGS declined to comment to Billboard.