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January 2nd, 2013 via WSJ

Private-equity firm Rizvi Traverse Management LLC has closed a deal to buy a majority stake in music performance-rights company SESAC Inc. for about $600 million, people familiar with the transaction said.

Rizvi will buy 75% of SESAC, which represents artists such as Bob Dylan, Neil Diamond and Rush, from owners including boutique investment bank Allen & Co. and hedge-fund firm Och-Ziff Capital Management Group LLC, the people said.

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