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SRPP News l 15 August 2024
SRPP acted as the lead legal advisor for GMM Grammy Public Company Limited (“GMM Grammy”) in relation to the sale of up to 1.5% of existing shares in GMM Music Public Company Limited (“GMM Music”). The strategic investment partnership between GMM Grammy and Warner Music Hong Kong Limited (“Warner Music Asia”), has reinforced GMM Music's valuation of over USD 700 million. SRPP also advised GMM Music on its strategic partnership with Warner Music Asia enhancing the distribution of GMM Music’s music catalogue through digital platforms and artist co-development.
GMM Grammy, traded on the Stock Exchange of Thailand (“SET: GRAMMY”), stands tall as Thailand’s leading entertainment and media conglomerate. In addition to its music ventures, GMM Grammy is involved in concert production, artist management, and film and television production.
GMM Music, a leading music company in Thailand, is the flagship company among GMM Grammy's subsidiaries. GMM Music is responsible for a comprehensive integrated music business, including music production, artist management, marketing, and distribution of music. The company is recognized for its influential role in the Thai music industry and its commitment to delivering high-quality music experiences. GMM Music is currently preparing for an initial public offering (IPO).
Warner Music Asia is part of Warner Music GroupCorp., traded on the NASDAQ stock exchange under the ticker symbol WMG. WMG is one of the top three largest of the global record labels. Warner's larger segment, recorded music, consists of iconic labels like Atlantic Records, Warner Records, and Parlophone Records and popular artists such as Ed Sheeran, Cardi B, Dua Lipa, and Blake Shelton. Warner Chappell, the firm's publishing arm, is the home to over 65,000 composers and songwriters with over a million copyrights represented.
As part of their strategic alliance, Warner Music Asia will make a strategic investment with a cash injection of THB 370 million and provide a minimum guarantee of THB 315 million. This investment aims to accelerate GMM Music's growth and the Thai music industry, which is the largest in Southeast Asia, while jointly expanding the business into larger global markets.
The transaction was spearheaded by Panuwat Chalongkuamdee (Founding Partner), Pimkwan Subprasert (Associate), Pasinee Jiravitawat (Associate), Bhornbhatr Srinopnikom (Associate), Krisakorn Thongprasert (Associate), Thunyaporn Pattarapipatkul (Associate), and Poondarik Tayawitit (Associate).
For more details, please click here.
You may view Panuwat's profile here.
You may view Pimkwan's profile here.
You may view Pasinee's profile here.
You may view Bhornbhatr's profile here.
You may view Thunyaporn's profile here.
You may view Krisakorn's profile here.
You may view Poondarik's profile here.
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