Private equity buyouts destroyed music companies through debt, cuts, and homogenization.

Evidence

Private equity is a destructive force in the music industries, as seen for example in the takeover of Warner Music Group by Bain, THL, and Providence in 2004. In the intervening years, EMI, Clear Channel (now called iHeartMedia), Cumulus, and other music companies were also subjected to acquisition by private equity, resulting in massive layoffs, debt, homogenization, and profit extraction. — Andrew deWaard, Derivative Media, 50

Categorization

• SHARE: Specific named deals (Bain/THL/Providence/Warner, EMI, Clear Channel) worth sharing with someone following media consolidation.