Warner Music and Providence to invest $650m in Tempo Music.

Warner Music Group and Providence Equity Partners, a private equity firm are set to invest $650m in a newly established platform, Tempo Music Investments. WMG will handle administration for music publishing and distribution for recorded music, drawing on its vast, deep-rooted music industry expertise, resources, and network. “It is a privilege to partner again with Warner Music Group. We are excited about this innovative new relationship, which combines Providence’s investment expertise in media with WMG’s distinctive skill in working with and recognizing top artists and assets in music. We look forward to partnering with WMG and our investment management team to support creators and build a best-in-class portfolio of music assets,” Josh Empson, Providence Managing Director.