Spirit Music Group has announced a recapitalization and is now wholly-owned by the newly-formed Lyric Capital Group. COO Jon Singer will become Chairman of Spirit Music Group and Managing Partner of Lyric, while Ross Cameron will continue in an executive role at Spirit and become a Partner at Lyric. Key Nashville execs including Daniel Hill all remain in place.
Led by Singer, the indie publishing company secured over $350 million in the move which will help to recapitalize its catalog and future acquisitions.
“There is a powerful shift occurring within the music industry and this new dynamism means that Spirit, with our amazing songwriters, dedicated team and 75,000 songs, is especially well-positioned for growth,” said Singer. “We are privileged to have major institutional investors on board, providing us with additional capital to grow. I am very excited to serve the incredible songwriters that make up the Spirit family during this exciting time.”
Spirit’s portfolio includes over 200 No. 1 Billboard hits and over 450 Top 10 songs from artists like Chicago, Eminem, Sam Hunt, Jay Z, Madonna, Tim McGraw, Elvis Presley, Ed Sheeran, Blake Shelton, Frank Sinatra, Taylor Swift, The Who and Whitney Houston.
Among its most notable songwriters and writer/artists are James Bay, John Barrett, Alan and Marilyn Bergman, Big Data, Marc Bolan, T Bone Burnett, Zach Crowell, Henry Mancini, Johnny McDaid, The Marshall Tucker Band, Graham Nash, John Newman, Doc Pomus, Frank Rogers, Boz Scaggs, Billy Squier, Pete Townshend, and newer artists including Dagny and Tim Montana.
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