SESAC Valuation Hits $3 Billion+ as Blackstone Weighs PRO Sale to Asian, US Investors
Blackstone is exploring the potential sale of SESAC with an expected price tag of over $3 billion, according to recent Bloomberg reports. The performance rights organization (PRO) has attracted interest from several major investors, including Apollo Global Management, Warburg Pincus, and Singapore's state-owned Temasek Holdings.
Temasek Headquarters in sunlight
The potential sale would likely include SESAC Music Group's entire portfolio, including Audiam and the Harry Fox Agency. This development follows Hellman & Friedman's recent majority stake acquisition in Global Music Rights (GMR), signaling continued private equity interest in the performance rights sector.
The timing is particularly significant as it comes after New Mountain Capital's acquisition of Broadcast Music, Inc. (BMI) in 2023. This leaves ASCAP as the only remaining non-profit performing rights organization in the United States.
Meanwhile, ASCAP has announced a $1 million distribution to support members affected by the Los Angeles fires, emphasizing its unique status as the sole not-for-profit PRO in the U.S.
While neither Blackstone nor the potential bidders have officially commented on the reported price, the public disclosure of the $3 billion figure could be strategic to generate additional interest and competitive offers in the sale process.
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