Primary Wave Closes Kobalt Acquisition, Creating a $7B Indie Powerhouse

The deal, which was first reported in February, includes Kobalt's worldwide operations, catalog and digital collection society AMRA.

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On Tuesday (July 7), Primary Wave officially passed all relevant regulatory scrutiny and closed its acquisition of Kobalt, Billboard has confirmed. The deal is estimated to be worth more than $1.5 billion.

The possibility of the deal was first reported by Billboard in February. At the time, it was estimated that if Primary Wave and Kobalt were to go through with it, the combined companies would be worth $7 billion in assets. By March 23, a press release announced that Primary Wave’s acquisition was officially happening and would include Kobalt’s worldwide operations, its catalog of copyrights and digital collection society AMRA.

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