Music rights management company, BMI has announced the company will be acquired by investment firm New Mountain Capital, LLC. Per the acquisition, New Mountain will fund growth investments, new ventures and technology to improve BMI’s mission to maximize distributions and the service it provides songwriters, composers and distributors. As part of the agreement, BMI will allocate $100 million of its affiliates’ proceeds to the songwriters, composers and publishers they represented. Mike O’Neill, President & CEO of BMI, will continue to lead the company alongside his leadership team.
“Today marks an exciting new chapter for BMI that puts us in the best possible position to stay ahead of the evolving industry and ensure the long-term success of our music creators,” said O’Neill. “New Mountain is an ideal partner because they believe in our mission and understand that the key to success for our company lies in delivering value to our affiliates.
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