The German collective management organization added the Dutch company to its portfolio to better identify the music it needs to collect royalties on.
Absolute's leadership team will fully reacquire the company from Utopia, which has made three major divestments so far this year.
The Kering chairman is exploring the acquisition with CAA co-chairman Bryan Lourd at Allen & Company's annual media finance gathering in Sun Valley, Idaho.
The company’s assets include Bogotá festivals Estéreo Picnic, Baum Festival and Knotfest Colombia.
The acquisition includes a royalty income stream of select recorded music assets, including the Billboard Hot 100 No. 1 hits "Hot in Herre" and "Dilemma."
A consortium of buyers led by Sherrese Clarke Soares joins a pool of bidders for the Paramount network, including Tyler Perry and Byron Allen.
The Neon16 and Ntertain Latin music moguls rebrand the Arro agency as AM16.
The deal, which also encompasses elements of McAnally's master royalties, includes a global admin agreement for SMACKSongs and SMACKBlue.
Also this week: Sony Music Masterworks invests in live events producer Proactiv, music collaboration platform boombox.io raises funds and more.
Also this week: Seeker Music acquires the catalog of Go-Go's member Charlotte Caffey, 300 Entertainment launches label JV with Remain Solid and more.
