The world’s fourth-largest music publishing company just got a little bit bigger.Bertelsmann Music Group (BMG) has signed a deal to gain rights to selected music catalogues from Virgin Music Publishing, Famous U.K. Music Publishing, and titles from Sony/ATV and EMI Music.
As a result, BMG now has access to Virgin’s some 21,000 song catalogue featuring Nirvana, Duffy, and Iggy Pop.
The deal is a result of Sony/ATV’s earlier $2.2 billion purchase of EMI’s publishing segment this summer
Though specific monetary details of the transaction haven’t been revealed, it’s thought the purchase is in the area of $90 million.
Back in September, The Hollywood Reporter reported Sony/ATV Music Publishing was auctioning off the rights to Virgin’s music catalogue for an estimated $150 million.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.