Jan 2 Private-equity firm Rizvi Traverse
Management LLC has closed a deal to buy a majority stake in
music performance-rights company SESAC Inc for about $600
million, the Wall Street Journal reported, citing people
familiar with the deal.
Rizvi will buy 75 percent of SESAC, which has been on the
block for months and received interest from various
private-equity firms, the Journal said. ()
SESAC, founded in 1930, represents artists such as Bob
Dylan, Neil Diamond and Rush.
Rizvi Traverse and SESAC could not be reached for comment
outside business hours.
The New York Post earlier reported the deal talks.