Toy manufacturer Hasbro is selling the Entertainment One Music division to the holding company. The catalog of the notorious label Death Row Records also belongs to eOne Music.
Dhe American investment company Blackstone is taking over the Entertainment One Music (eOne Music) division from Hasbro. The purchase price is $ 385 million, according to a statement. The transaction is expected to be completed by the third quarter of 2021. The toy manufacturer acquired the division as part of the nearly four billion dollar takeover of the Canadian media company Entertainment One in the summer of 2019.
Entertainment One is behind the popular children’s series “Peppa Pig”. Meanwhile, eOne Music includes the catalog of the infamous rap label Death Row Records, founded in the early 1990s, but also the folk label Dualtone and a management and publishing department. Blackstone had already bought SESAC, an organization for managing music rights, at the beginning of 2017.
High prices for music catalogs
For some time now, in view of the low interest rates, financial investors have been increasingly interested in author catalogs, the evaluation of which they promise to secure long-term and potentially even higher income. Rights to music recordings and the associated royalty shares are also in great demand. The most active buyers, especially in the area of author catalogs, have recently included the Hipgnosis fund and the American publisher Primary Wave, which is supported by Blackrock.
At the same time, two established greats in the music industry recently made sensational deals with Universal and Sony Music. Universal’s publishing division secured the author’s rights to more than 600 Bob Dylan works in December. Sony Music Publishing took over Paul Simon’s catalog a few weeks ago.
In fact, on Monday there was also a top-class conclusion in the publishing sector: Concord Music acquired the rights to 145,000 works from Downtown Music, including songs that have been interpreted by stars such as Adele, David Bowie and Ray Charles. In industry media there is talk of a price of up to $ 400 million.