Owner of Rush, Timbaland Songs Hunting for Equity Partner
- Ontario Teachers’ Pension Plan is seeking to cash out
- Company has $500 million credit facility for acquisitions
Rush guitarist Alex Lifeson, singer/bassist Geddy Lee and drummer Neil Peart perform at the MGM Grand Garden Arena in Las Vegas, Nevada.
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Ole, owner of rights to songs from Timbaland to Canadian rockers Rush, aims to ramp up acquisitions and double its profit as it looks for a new equity partner.
The closely held Toronto-based rights management company had been trying to sell itself for the past year but its asking price of about $600 million was too high for prospective buyers, according to two people familiar with the matter who asked not to be identified because the deliberations were private.