Just got a nice surprise from BMI that we had a sale allocation payment.
“As I’ve previously announced, BMI’s former shareholders allocated $100 million of the proceeds from New Mountain Capital’s acquisition of BMI in recognition of the creativity of the affiliates they had the privilege to represent. With this statement, I’m thrilled to share your portion of that allocation as a thank you for all you have contributed to BMI and the world of music.”
The included letter goes on to explain more fully.