New Mountain Capital and CapitalG to acquire Broadcast Music.

New Mountain Capital, an alternative investment manager, and CapitalG, a private equity firm under Alphabet, agreed to acquire Broadcast Music, the world’s largest music performing rights organization. Financial terms were not disclosed. “Today marks an exciting new chapter for BMI that puts us in the best possible position to stay ahead of the evolving industry and ensure the long-term success of our music creators. New Mountain is an ideal partner because they believe in our mission and understand that the key to success for our company lies in delivering value to our affiliates. We are excited about the many ways New Mountain will accelerate our growth plan, bringing new vision, technological expertise and an outstanding track record of strengthening businesses, all of which will help us build an even stronger future for BMI and our songwriters, composers and publishers,”Mike O’Neill, BMI President & CEO.