Exclusive: Sony/ATV starts auction for Virgin Music song catalog

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Lenny Kravitz performs at the Rock in Rio Music Festival in Rio de Janeiro(Reuters) – Sony/ATV, the music publishing division of Sony Music, has kicked off an auction to sell the rights to more than 30,000 songs from artists ranging from Culture Club to Iggy Pop contained in the Virgin Music and Famous U.K. song catalogs, according to sources with direct knowledge of the process. These sources said non-disclosure agreements were sent out last week to more than 20 potential buyers, including Warner Music Group, Primary Wave Music, Round Hill Music, Imagem Music, Kohlberg Kravis & Roberts & Co LP, Platinum Equity Partners, Thomas H. Lee Partners and others. …

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