Warner Music (WMG) announced that it has acquired a controlling stake in Tempo Music Investments from Providence Equity Partners. Providence will remain a minority investor in Tempo and continue to work with WMG in an advisory capacity. WMG and Providence partnered to launch Tempo in 2019. WMG’s investment will also become more accretive over time, as other rights revert to Tempo, and expand the scope of WMG’s administration and distribution.
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