Influence Media Buys Anthem's Music Assets for $650M+

Influence Media Partners, with backing from BlackRock, has emerged as the frontrunner to acquire the music assets of Anthem Entertainment. The deal, valued at slightly over $650 million, follows two previous unsuccessful attempts to sell the Canadian music firm in 2017 and 2022. The acquired assets include extensive music publishing catalogs and recorded master royalties from notable artists such as Rush and Timbaland, alongside music from the Spider-Man and Men in Black franchises.

The transaction also includes the Sony Pictures Entertainment publishing catalog. However, Compact Media, a rights administration company, is not part of this deal, nor is the Anthem Entertainment platform itself. Revenue from the sold music assets is approximately 50% from publishing, 20% from passive artist royalties, and 30% from film and TV components.

This acquisition is subject to scrutiny from Canadian Heritage, a regulatory agency known for its thorough review processes. The deal carries a breakup fee for Influence Media should it fail to close. Anthem Entertainment, formerly known as ole, reported annual net publisher's and net label share revenue in the range of $45 million to $50 million, suggesting a deal multiple of around 13 to 15 times this figure.

The Ontario Teachers Pension Plan, the primary owner of Anthem's catalog, is expected to cash out through this sale. Goldman Sachs facilitated the transaction, while Influence Media's prior investments include catalogs of artists like Blake Shelton and Future.