Virgin Music Group to Acquire Downtown Music for $775M

In a significant move within the global music industry, Virgin Music Group, Universal Music Group's independent music division, has announced a definitive agreement to acquire Downtown Music Holdings for $775 million. This acquisition aims to create a formidable global end-to-end solution for independent music entrepreneurs. Virgin Music Group, known for its robust support to independent music enterprises, will enhance its offerings by leveraging Downtown Music's diverse portfolio, which spans music publishing, distribution, and financial services. Upon receiving regulatory approval, expected in the latter half of 2025, the merger will see Virgin Music expand its global infrastructure and technology capabilities, serving creators, entrepreneurs, and artists on a large scale. Downtime's recognition as a distinguished music services entity and its global reach across 145 countries positions Virgin Music strategically to lead the charge in music distribution and rights management. Financial and legal advisories for the transaction come from top firms including Goldman Sachs and Kirkland & Ellis LLP. With over 5,000 business clients and a network that includes over four million creators, this acquisition promises a strengthened ecosystem for independent music stakeholders.