Universal is paying $240 million for a 25.8% stake in the business, the companies said in a statement Tuesday, joining a consortium led by Dundee Partners, the investment firm of the Hendel family. Private equity giant KKR & Co. is selling its stake in Chord to Universal and Dundee in a deal that values the entire entity at about $1.85 billion, including debt.
Universal Music Buys $240 Million Stake In The Weeknd, John Legend Catalog
