With AVL Digital Group Deals, Offit Kurman M&A Attorneys Complete Large Client Transactions

After a record-breaking year in 2018 for business transactions closed for clients, the attorneys of Offit Kurman’s Mergers & Acquisitions Practice Group are pleased to announce the completion of another $100 million-plus deal that finalized in March 2019.

Joseph M. Armstrong, Herbert R. Fineberg and Michael Petrizzo represented the AVL Digital Group in two successful transactions valued at over $240 million. Mr. Fineburg has worked with the AVL Digital Group for decades prior to closing these transactions during the first week of April 2019.

In the first transaction, AVL Digital Group spun off its legacy physical product divisions, Disc Makers®, BookBaby®, and Merchly, to DIY Media Group, Inc., an entity newly formed by the senior management team headquartered in Pennsauken, New Jersey.

Shortly after the spinoff of the legacy physical product divisions, AVL Digital Group sold its integrated portfolio of industry-leading music distribution and artist services businesses, including AdRev®, CD Baby®, DashGo℠, and Soundrop® to Downtown Music Holdings, the parent company of Downtown Music Publishing and Songtrust®. With a diverse client base of over 900,000 artists, labels and other rights holders, AVL Digital Group represents the largest independent sound recording catalogue in the music industry. Collectively, AVL Digital Group’s portfolio companies distribute and monetize a catalogue of over 10 million tracks across popular content streaming services, including Amazon, Apple Music, Spotify and YouTube.ne