Following the sale of AWAL and Kobalt Neighboring Rights to Sony Music for $430 million last year, Kobalt was left with two core businesses – Kobalt Music Publishing and collection society AMRA – as well as a decent pile of cash on its balance sheet. That cash pile was enhanced over the past two years by fees related to the sale of a pair of catalogs – for a total $1.4 billion – by Kobalt’s now-defunct investment management arm (Kobalt Capital).
Source: The Kobalt sale: 3 takeaways from the music industry’s biggest story of the moment