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Monday, September 12, 2011

BMG Acquires Bug

BMG FEELS THE BUG: BMG Rights Management has acquired L.A.-based song publisher Bug Music for a reported $300 million, and now has its sites set on EMI Music, according to sources. BMG acquired the pubbery from majority owner Spectrum Equity Investors to acquire the catalog whose assets include the songs “Wonderful World" and "Under the Boardwalk." Several companies were in the bidding, including American Idol creator Simon Fuller, Ole Music and Sony/ATV, who are also bidders for EMI Music. Bug reps the estates of Johnny Cash, Willie Dixon, Muddy Waters, Woody Guthrie, Del Shannon, Stevie Ray Vaughn, Pete Townshend, Iggy Pop and Ryan Adams. It has also been involved in joint ventures with Kara DioGuardi and Jamie Foxx. Founded by Dan Bourgoise in 1975, Bug was purchased by Spectrum Equity in 2006, acquiring the Windswept Music and Trio/Quartet catalogs in 2007. (9/12p)

 
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