Kirkland & Ellis is advising Virgin Music Group, the global independent music division of Universal Music Group, on the proposed acquisition of Downtown Music Holdings LLC for cash consideration of $775 million (approximately €737 million). A definitive agreement was announced December 16, 2024. The acquisition is expected to close in the second half of 2025, subject to regulatory approvals. Downtown’s portfolio of businesses includes FUGA, Downtown Artist & Label Services, Curve Royalties, CD Baby, Downtown Music Publishing and Songtrust. Downtown collectively serves over 5,000 business clients and more than four million creators in 145 countries, and its clients were recently recognized with nearly 150 nominations for the upcoming 2025 GRAMMYs. Virgin Music Group and Downtown will offer a broadened and enhanced suite of services to clients, including digital & physical distribution; release marketing; business intelligence; neighboring rights; synchronization; royalties and rights management. Read the transaction press release The Kirkland team included corporate lawyers Pete Martelli, Jimin He and Isilay Piskin; music/IP transactions lawyers Seth Traxler and Shellie Freedman; and tax lawyers Sara Zablotney and Grace Nielsen.