Kirkland & Ellis, Freshfields, Gilbert + Tobin, Skadden, Allens and TozziniFreire advised on Universal Music Group’s $775 million acquisition of Downtown Music.

Universal Music Group (UMG), through its global independent music division Virgin Music Group, has agreed to acquire 100% of Downtown Music Holdings LLC for cash consideration of $775 million. The transaction, one of the largest in the music industry in the past decade, has received regulatory approvals, including clearance from the European Commission following an in-depth Phase 2 investigation, and has now closed.

Downtown Music is a global music services platform whose portfolio includes FUGA, CD Baby, Songtrust, Curve Royalties and Downtown Artist & Label Services, serving over 5,000 business clients and more than four million creators across 145 countries. The acquisition is expected to enhance Virgin Music Group’s offering across digital and physical distribution, marketing, royalties and rights management, and other artist and label services.

Kirkland & Ellis advised Virgin Music Group on the acquisition. The team included corporate lawyers Pete Martelli, Jimin He and Isilay Piskin; music and IP transactions lawyers Seth Traxler and Shellie Freedman; and tax lawyers Sara Zablotney and Grace Nielsen.

Freshfields advised Universal Music Group on the global merger control aspects of the transaction, including securing European Commission approval following a Phase 2 investigation and coordinating regulatory filings across multiple jurisdictions.

The team was led by Partners Thomas Janssens, Thomas McGrath and Mary Lehner, and included Partners Maria Dreher and Paul van den Berg; Senior Associates Justin Chen, Rory Jones, Elizabeth Giordano, William Cooke, Christina Hinterschweiger and Felix Roscam Abbing; and Associates Terri Cliffe, Alexandra Forrest, Niccolo Piga, Toyosi Taiwo, Fabian Bickel, Marta Powolny, Julie Letort and Laurent de Canniere.

Gilbert + Tobin also advised Virgin Music Group on the transaction.

Skadden, Arps, Slate, Meagher & Flom advised Downtown Music Holdings LLC on the transaction, led by Partners Howard Ellin, Glen G. Mastroberte and David Eisman.

Allens also advised Downtown Music, led by Partner Felicity McMahon.

TozziniFreire Advogados represented Downtown Music Holdings LLC on Brazilian law aspects of the transaction. The team was led by Partner Guilherme Ribas, with support from Counsel Natan Munhoz and Associate João Diwali Lima.