Los Angeles-based funding agency Shamrock Capital has acquired a portfolio of movie, tv and music rights from Vine Different Investments Group.
Longtime MBW readers will keep in mind Vine as an organization that has gained over 150 Music written by 2020 Grammy Award-winning, multi-platinum promoting producer, songwriter and DJ Calvin Harris. $105 million Harris’ music combine.
General, the mixture of rights Shamrock acquired from Vine, together with the Calvin Harris catalog, offers Shamrock greater than 550 drama, finish 2,000 TV program time and above 450 music.
The worth of the deal was not disclosed. Nevertheless, to cite Shamrock companion Patrick Russo, wall avenue journal mentioned it marks Clover’s largest-ever particular person deal by way of its vertical content material technique established a couple of decade in the past.
Russo mentioned that by way of wall avenue journalthe belongings acquired as a part of the Vine deal introduced Clover’s holdings to “greater than 1,000 motion pictures and 3,000 The time spent watching TV far exceeds 20,000 musical work”.
After all, Shamrock Capital is greatest recognized for purchasing the grasp rights to Taylor Swift’s first six studio albums from Ithaca Holdings in November 2020. $405 million.
January 2023 promoting billboard Based on studies, Clover and Common Music Group are one of many two consumers of Dr. Dre’s music belongings, with the entire quantity altering arms is roughly $200 million.
Final February, Shamrock raised greater than $600 million dedication to its Shamrock Capital Content material Fund III (SCCF III), the third fairness fund for its content material technique.
clover Patrick Crusoe Clover would use the funds to “exploit tendencies, modifications and alternatives in international media and leisure,” it mentioned on the time.
On the time (February 2023), Shamrock reported that its content material technique, together with SCCF III commitments, had reached US$2 billion in AUM.
in line with wall avenue journal, Vine Portfolio Transaction Values Shamrock Content material Technique Belongings at Approx. $2.4 billion.
In reference to the Shamrock transaction, an affiliate of Shamrock Capital has entered right into a providers association with HighPoint Media Advisors, a newly shaped media advisory agency led by former Vine principals Stephen Kovach and Invoice Lambert.
Unrelated and unbiased of the Shamrock deal, Vine mentioned it is going to flip its consideration to the “rising unbiased content material manufacturing house”, persevering with to supervise its improvement and manufacturing studios Village Roadshow Leisure Group (VREG) and EuropaCorp.
“As Clover’s content material technique continues to broaden, we’re excited so as to add this distinctive portfolio to our current premium content material platform.”
Patrick Krasou’s “Clover”
Discussing the Vine acquisition, Patrick Russo, companion and govt committee member at Shamrock Capital, mentioned: “Jim, Invoice and Stephen had been early movers within the leisure royalty house and over time curated a formidable library of movie and tv titles and Music catalog combos which are timeless and have deep cultural significance.
“As Clover’s content material technique continues to broaden, we’re excited so as to add this distinctive portfolio to our current premium content material platform.”
“This acquisition solely strengthens our dedication to the filmed leisure and music industries.”
Jason Sklar, Clover Capital
Jason Sklar, companion and govt committee member at Shamrock Capital, added: “We consider in content material for the long run. This acquisition solely strengthens our dedication to the filmed leisure and music industries, and we stay up for working with our key studio and music publishing companions to Maximize the influence and lasting worth of those distinctive items.
“We’re happy to be working with Shamrock on this landmark transaction.”
Jim Moore, Vine Different Investments
Jim Moore, CEO of Vine Different Investments, mentioned: “We’re happy to companion with Shamrock on this landmark transaction. We consider their skilled administration of those belongings will permit Vine to give attention to investing in unbiased content material creation.
Lampert and Kovacs mentioned in a joint assertion: “That is an thrilling new relationship for the HighPoint staff, and we stay up for deepening our relationship with Clover Capital as we work with them over the previous decade. Working carefully on the long-lasting portfolio constructed over time.
Latham & Watkins LLP acted as authorized counsel to Shamrock on this transaction. Salem Companions LLC served as monetary advisor for the transaction, and Paul Hastings LLP and Kirkland & Ellis LLP served as Vine’s authorized advisor. O’Melveny & Myers LLP acted as authorized counsel to HighPoint Media Advisors on this transaction.
Elsewhere at Shamrock, the agency closed a $1 billion progress fund known as Shamrock Capital Development Fund V in June 2021, and a month later raised a further $400 million to spend money on leisure IP, together with music copyright. It additionally raised $196 million to construction loans to mental property house owners.
Vine was based in 2006 and has invested approx. US$1.3 billion Media and leisure capital has closed over 26 offers up to now.international music enterprise
