"The ultimate goal for the company is to be truly a place to develop artists,” The Neal Agency's Austin Neal tells Billboard.
This marks Kobalt's return to managing investment for outside capital after selling its two Kobalt Capital funds in recent years.
"We have zero tolerance for this behavior," Boom Music Group said in a statement.
Songwriter Justin Tranter and country artist and podcast host Rissi Palmer were also honored.
About 40 employees were let go Thursday, including executive vp, global repertoire Fred Casimir and senior vp, global repertoire Jason Hradil.
This week in publishing news: One Two Many signs Dot Da Genius, Avex USA and Coup D'Etat sign Victony, and Peermusic acquires Arctic Rights Management.
Digital has become the biggest source of income around the world, driving rights management organizations to new highs.
The company sharply cut its expected retroactive royalty payments. Competitors are confident they won’t follow suit.
The deal includes such hits as "Buy Dirt," "What My World Spins Around" and "Next Thing You Know."
The pact covers the Rock & Roll Hall of Fame inductee's back catalog and future output, including songs he wrote for Eagles, James Gang and his solo albums.
