Reports indicate Blackstone is entertaining private equity offers for performing rights organization SESAC, with potential sale discussions intensifying in 2025. This development follows New Mountain Capital's acquisition of BMI and Hellman & Friedman's reported $3.3 billion majority stake purchase in Global Music Rights (GMR).

Multiple private equity firms, including those who previously sought GMR ownership, have approached Blackstone about acquiring SESAC. Blackstone is reportedly being selective in these discussions, engaging primarily with firms that initiated contact.

SESAC's portfolio includes several valuable subsidiaries:

• Audiam
• Harry Fox Agency
• AudioSalad
• HAAWK
• Rumblefish

In April 2024, SESAC expanded its Music Services Division, creating a comprehensive licensing, administration, and royalty-collection hub that incorporates these subsidiaries. This strategic move may have been preparation for a potential sale.

The timing appears favorable for a SESAC sale, particularly given that:

• BMI successfully sold despite operating under a consent decree
• SESAC operates without consent decree restrictions
• Institutional interest in music assets remains strong
• The market has demonstrated appetite for major music industry acquisitions

Recent industry developments supporting this trend include Warner Music's dedicated acquisitions executive appointment and Universal Music's purchase of Downtown Music through Virgin.

While music assets maintain strong long-term value prospects, industry-wide inflation and market conditions may be influencing timing considerations for potential sellers. The outcome of these discussions will determine SESAC's future ownership structure and valuation.

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