Los Angeles-based funding agency Shamrock Capital has acquired a portfolio of movie, tv, and music rights from Vine Different Investments Group.
Lengthy-time MBW readers will keep in mind Vine as the corporate that acquired a catalog of greater than 150 songs from Grammy award-winning and multi-platinum-selling producer, songwriter, and DJ Calvin Harris in 2020. MBW sources have prompt that Vine paid within the area of $105 million for Harris’s music portfolio.
In whole, the portfolio of rights acquired by Shamrock from Vine – together with that Calvin Harris catalog – delivers Shamrock possession curiosity in additional than 550 characteristic movies, over 2,000 hours of tv programming and over 450 songs.
The deal’s worth was undisclosed. Nevertheless, citing Shamrock Companion Patrick Russo, the Wall Road Journal says it marks Shamrock’s largest-ever particular person transaction by way of its Content material Technique vertical, which was established round a decade in the past.
In response to Russo, by way of the WSJ, the property acquired as a part of the Vine deal deliver Shamrock’s holdings to ‘greater than 1,000 movies and 3,000 hours of TV and effectively in extra of 20,000 musical compositions’.
Shamrock Capital is, in fact, finest recognized for shopping for the grasp rights to Taylor Swift’s first six studio albums from Ithaca Holdings in November 2020. Sources have since instructed MBW that deal price Shamrock within the area of $405 million.
In January 2023, Billboard reported that Shamrock – alongside Common Music Group – was one in every of two consumers of Dr. Dre’s music property, with round $200 million altering arms in whole.
In February final yr, Shamrock raised greater than $600 million in commitments for its Shamrock Capital Content material Fund III (SCCF III) – the third fairness fund for its Content material Technique.
Shamrock’s Patrick Russo stated on the time that Shamrock would use the funds “to capitalize on the developments, adjustments, and alternatives throughout the worldwide media and leisure panorama.”
On the time (in February 2023), Shamrock reported that, together with the SCCF III commitments, its Content material Technique had reached $2 billion in AUM.
In response to the WSJ, the Vine portfolio transaction brings the worth of Shamrock’s Content material Technique property to roughly $2.4 billion.
In reference to the Shamrock transaction, an affiliate of Shamrock Capital has entered right into a servicing association with HighPoint Media Advisors, a newly fashioned media advisory firm led by former Vine Principals, Stephen Kovach and Invoice Lambert.
Separate and unrelated to the transaction with Shamrock, Vine stated it’s going to pivot its consideration to the “rising sector of impartial content material manufacturing”, persevering with to supervise its improvement and manufacturing studios Village Roadshow Leisure Group (VREG) and EuropaCorp.
“As Shamrock’s Content material Technique continues to increase, we’re thrilled so as to add this exceptional portfolio to our current platform of premium content material.”
Patrick Russo, Shamrock
Discussing the Vine acquisition, Patrick Russo, Companion and Government Committee Member at Shamrock Capital, stated: “Jim, Invoice and Stephen have been early movers within the leisure royalty sector and, over time, curated a powerful portfolio of movie and tv libraries and music catalogues which might be timeless and maintain deep cultural significance.
“As Shamrock’s Content material Technique continues to increase, we’re thrilled so as to add this exceptional portfolio to our current platform of premium content material.”
“This acquisition solely strengthens our dedication to the filmed leisure and music industries.”
Jason Sklar, Shamrock Capital
Jason Sklar, Companion and Government Committee Member at Shamrock Capital, added: “We’re long-term believers in content material. This acquisition solely strengthens our dedication to the filmed leisure and music industries, and we sit up for collaborating with our main studio and music publishing companions to maximise the affect and enduring worth of those distinctive works.”
“We’re delighted to have labored with Shamrock on this landmark transaction.”
Jim Moore, Vine Different Investments
Jim Moore, CEO of Vine Different Investments, stated: “We’re delighted to have labored with Shamrock on this landmark transaction. We consider their skilled stewardship of those property will permit Vine to pay attention our deal with investments in impartial content material creation.”
Lambert and Kovach in a joint assertion: “That is an thrilling new relationship for the HighPoint crew, and we glance ahead towards to deepening our relationship with Shamrock Capital as we work carefully with them on the enduring portfolio we constructed over the previous decade.”
Latham & Watkins LLP served as authorized advisor to Shamrock on the transaction. Salem Companions LLC served as monetary advisor and Paul Hastings LLP and Kirkland & Ellis LLP served as authorized counsel to Vine on the transaction. O’Melveny & Myers LLP served as authorized counsel to HighPoint Media Advisors on the transaction.
Elsewhere at Shamrock, in June 2021, the corporate closed a $1 billion progress fund referred to as Shamrock Capital Development Fund V, and a month later it raised one other $400 million for a fund to put money into leisure IP, together with music copyrights. It additionally raised $196 million to supply mortgage buildings to IP homeowners.
Vine, which was based in 2006, has invested round $1.3 billion of capital within the media and leisure sector to this point, throughout greater than 26 transactions.Music Enterprise Worldwide
