Music Business Worldwide reports: “Kobalt Music Group just became a ‘unicorn’ – but you’d have to know your recent music industry history to understand why. First things first: Today (September 7), Kobalt has confirmed, as predicted by MBW last month, that private equity company Francisco Partners (FP) is acquiring a majority stake in its business. MBW understands that, should the deal clear regulatory/closing conditions, FP’s controlling stake in Kobalt will equate to around 90% of the music company.”
