US sports, music and entertainment agency Wasserman has appointed Steve Murray as its new executive vice president of acquisitions and strategy.
Murray, a former head of a private equity giant Providence Equity Partnersbrings nearly 15 years of experience to the role.
The executive’s career includes experience in the sports, music and entertainment industries, including working with National Football League, Major League Soccer, Learfield, Real Madrid, and Warner Music. His expertise spans media rights, digital marketing, commercial rights, music rights, technology and education.
Notably, Murray played a key role in Providence’s strategic investment in Wasserman in November 2022, which the company said fueled its expansion efforts. Since 2020, Wasserman has completed more than 20 acquisitions, eight of which followed the Providence investment.
In addition, Providence also owns Tempo Music, a music copyright acquisition fund launched in 2019.
Meanwhile, Murray also played a major role in Wasserman’s two major trades: Acquisition in October 2023 CSM Sports and Entertainmentexpanding the company’s service capabilities and global reach, with the acquisition in September 2023 brillstein entertainment partnersdiversifying its business into entertainment management and content creation.
“Steve will play a leading role in Wasserman’s growth strategy, and we expect him to gain first-hand experience working closely with our company over the past several years to achieve a uniquely smooth transition.”
Elena Rochelli, Wasserman
Murray honed his trade skills before taking tenure at Providence Citibankof the M&A group, where he has been involved in multi-billion dollar transactions.
Wasserman announces appointment as financial officer Elena Rochelli “With nearly 15 years of experience sourcing, structuring and executing highly complex and transformative transactions, coupled with his in-depth knowledge of the global sports, music and entertainment industries, Steve is a perfect fit,” he said on Tuesday (July 30). our business as we look to accelerate the pace of acquisitions in our next phase of growth.
“Steve will play a leading role in Wasserman’s growth strategy, and we expect him to gain first-hand experience working closely with our company over the past several years to achieve a uniquely smooth transition.”
Murray also commented on his appointment, saying: “I am delighted to officially join Wasserman and become part of such a talented team. I am eager to contribute to our next phase of growth and seek to New acquisition opportunities to expand Wasserman’s services, capabilities and geographic reach.
“This is a tremendous opportunity to drive acquisitions and growth across the company, and I look forward to helping drive future success.”
“This is a tremendous opportunity to drive acquisitions and growth across the company, and I look forward to helping drive future success.”
Steve Murray, Wasserman
Wasserman’s strategic hiring follows a growing trend for music and music technology companies to recruit from the private equity, banking and finance world to spearhead M&A efforts. Companies are increasingly looking to tap into the financial expertise and strategic insights that private equity and finance veterans bring to the table.
last month, Warner Music Group Goldman Sachs Michael Ryan Suthernappointed him to the newly created position of executive vice president of corporate development, effective in August.
at the same time, MBW revealed last month Tik Tok An internal Music content investment team Headquartered in Los Angeles, New York and San Jose, it focuses on “collaboration or acquisition opportunities in global music content,” meaning TikTok is entering the highly competitive music M&A market.
Notably, it also looks at the world investment bank and private property rights Find the senior executive responsible for the work.
The developments come amid a wave of deals in the music industry, with potential investors coming from the private equity industry.
About two weeks ago, Bloomberg According to reports, the London-based ticketing platform dice Negotiations are underway to sell a substantial stake in the company, with at least three private equity firms reportedly interested.
Around the same time, advertising billboard reported that downtown music holdings is exploring a potential sale and has been in talks with private equity firms and at least one major music company.
global music business
