Sobel and his fellow Apollo Global Management partner Lee Solomon have a long history of taking big swings in the media and entertainment sector, including a $5 billion acquisition of Yahoo and AOL from Verizon in 2021 and the 2022 purchase of a $760 million minority stake in Legendary Entertainment (“Dune”). This year, the duo structured the $500 million upsizing of music and theatrical rights giant Concord’s $1.8 billion asset-backed financing facility to support the company’s acquisition of U.K. royalties fund Round Hill Music, which has 51 catalogs and over 150,000 songs, including interests in music recorded by the likes of the Beatles, Rolling Stones, Elvis Presley, Johnny Cash and Aretha Franklin. Sobel coordinated Apollo’s backing of North Road Company, Peter Chernin’s content acquisition vehicle, which launched In mid-2022 with approximately $800 million in financing.
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