M&A Deal Summary

Virgin Group Acquires Downtown Music

On December 16, 2024, Virgin Group acquired media company Downtown Music for 775M USD

Acquisition Highlights
  • This is Virgin Group’s 1st transaction in the Media sector.
  • This is Virgin Group’s largest (disclosed) transaction.
  • This is Virgin Group’s 3rd transaction in the United States.
  • This is Virgin Group’s 1st transaction in New York.

M&A Deal Summary

Date 2024-12-16
Target Downtown Music
Sector Media
Buyer(s) Virgin Group
Deal Type Add-on Acquisition
Deal Value 775M USD
Advisor(s) Goldman Sachs (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Downtown Music

New York, New York, United States
Downtown Music is an independent record label and music publishing company formed by two veteran music industry executives. Downtown Music was formed in 2005 and is based in New York, New York.

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Buyer(S) 1

Buyer

Virgin Group

London, United Kingdom

Category Company
Founded 1970
Sector Diversified
Employees50,000
Revenue 15.0B GBP (2012)
DESCRIPTION

Virgin Group Ltd. is a British multinational company that operates in the travel, entertainment and lifestyle industries. It also manages ventures in financial services, transport, healthcare, food, and communications.


DEAL STATS #
Overall 3 of 3
Sector: Media M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: New York M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2024 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-14 Virgin America

Burlingame, California, United States

Virgin America, Inc. is a domestic airline serving the United States. Virgin America's fleet of 60 Airbus A319 and A320 aircraft have three classes of service, in-flight WiFi and power outlets on every flight, as well as personal, touch-screen seatback entertainment. The airline was established in 2004.

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