M&A Deal Summary

Providence Equity Partners and Warner Music Group Acquire Tempo Music

On December 10, 2019, private equity firm Providence Equity Partners and Warner Music Group acquired media company Tempo Music

Acquisition Highlights
  • This is Providence Equity Partners’ 27th and Warner Music Group’s 6th transaction in the Media sector.
  • This is Providence Equity Partners’ 74th and Warner Music Group’s 4th transaction in the United States.
  • This is Providence Equity Partners’ 10th and Warner Music Group’s 2nd transaction in New York.

M&A Deal Summary

Date 2019-12-10
Target Tempo Music
Sector Media
Buyer(s) Providence Equity Partners
Warner Music Group
Deal Type Joint Venture

Target

Tempo Music

New York, New York, United States
Tempo Music is an alternative investment platform organized around the idea that premium content provides attractive non-correlated returns for all. Tempo Music was formed in 2019 and is based in New York.

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Buyer(S) 2

Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


DEAL STATS #
Overall 115 of 137
Sector: Media M&A 27 of 29
Type: Joint Venture M&A Deals 1 of 1
State: New York M&A 10 of 12
Country: United States M&A 74 of 86
Year: 2019 M&A 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-03 SnapApp

Newton, Massachusetts, United States

SnapApp is an interactive content creation platform that enables marketers to boost results by 2-3x across all their existing marketing programs. SnapApp, Inc. was founded in 2006 and is based in Newton, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Anthology

Boca Raton, Florida, United States

Anthology is a provider of administrative software solutions to higher education, nonprofit organizations, and other learning industries. Anthology's product suite includes student information systems, constituent relationship management, enterprise resource planning, student and alumni engagement, retention, and compliance solutions. Anthology was founded in 1988 and is based in Boca Raton, Florida.

Buy -
Buyer

Warner Music Group

New York, New York, United States

Category Company
Founded 1929
Sector Media
Employees5,800
Revenue 6.4B USD (2024)
DESCRIPTION

Warner Music Group is home to a collection of the best-known record labels in the music industry, including Asylum, Atlantic, East West, Elektra, Fueled By Ramen, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros., and Word, as well as Warner/Chappell Music. WMG comprises an array of businesses aimed at helping artists achieve long-term creative and financial success while providing consumers with the highest-quality music content available. WMG is engaged in the recorded music business (including artist services) and the music publishing business, and is a leading company in national and international repertoire that operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group was formed in 1929 and is headquartered in New York, New York.


DEAL STATS #
Overall 10 of 15
Sector: Media M&A 6 of 10
Type: Joint Venture M&A Deals 1 of 1
State: New York M&A 2 of 4
Country: United States M&A 4 of 6
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-17 E.M.P. Merchandising Handelsgesellschaft mbH

Lingen, Germany

E.M.P. Merchandising Handelsgesellschaft mbH is an online multi-channel retailer of rock music and entertainment-inspired apparel and accessories. EMP today offers fans merchandise from globally renowned bands such as Twenty One Pilots, Panic! At The Disco, Metallica, Motörhead, Guns n Roses, Nirvana, Pink Floyd, AC/DC, The Doors, and many others. Beyond music, the company has established itself as a lifestyle e-tailer, offering merchandise from major entertainment brands such as Disney, Marvel, Star Wars, and Harry Potter; gaming brands such as Nintendo and PlayStation; sporting franchises such as the NFL; and alternative fashion brands such as Vans. The company operates a network of websites serving 18 European countries, with a community of millions of customers, and a fast-growing paid loyalty program.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-14 IMGN Media

New York, New York, United States

IMGN Media is a digital media company. IMGN creates and curates shareable social media content on mobile-first platforms. IMGN Media was established in 2015 and is based in New York City.

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