BMI Members to Receive $100M Bonus From New Mountain Sale. How Will It Be Split? ...Middle East

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BMI Members to Receive $100M Bonus From New Mountain Sale. How Will It Be Split?
source : billboard ( Middle East ) () 30
BMI, which was acquired by New Mountain Capital in February, last night notified songwriters and publishers that its previous owners, mainly radio and TV stations, have followed through on their commitment to disburse a $100 million bonus from the undisclosed amount received for the sale — which sources say was over $1 billion — to songwriters and publishers. What’s more, it disclosed to each songwriter and publisher how much they will be receiving. Songwriters and publishers expressed gratitude for the payout — after all, the sellers were under no legal obligation to share any of the sale price with BMI members. In fa

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