NEW YORK, September 20, 2022 – Proskauer, a leading international law firm, announced today that it advised Willard Ahdritz, Founder and Chairman of Kobalt, on U.S. matters in connection with Kobalt's sale of its controlling interest to Francisco Partners, a global technology and media-focused investment firm. Kobalt is a leader in music rights administration and publishing, representing over 20,000 artists worldwide. The transaction remains subject to customary closing conditions.
Mr. Ahdritz founded Kobalt in 2000 as a music and technology company for artists, songwriters, publishers, and labels as an alternative to the traditional music business model. It has since cemented its place as the top global independent publisher. He will continue to serve as Kobalt's Chairman following the transaction.
The Proskauer team was led by partners Ira Bogner and Justin Alex (Employee Benefits and Executive Compensation) as well as Robert Gaut and Amanda Nussbaum (Tax).