BMI Sale Allocation Payment

[Art Munson]

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.

[Pat]

I did too Art.Very nice surprise.Not to be a Debbie Downer but it’s not lost on me that this is a venture capitol group coming in so they’re going to get theirs somehow and maybe from the writers in the end. We’ll see.

[daveydad]

Same here. But what does all this mean in simple to understand terms??

[Author]

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