Hearst and Alphabet-backed music services group Kobalt is gearing up to raise its largest funding round to date, in a deal potentially sized at more than $100m.

Kobalt Music Group, a US-based music services provider backed by media group Hearst and internet technology conglomerate Alphabet, is in the process of raising a series E round, Music Business Worldwide has reported. The company has approached investment banks to help raise the round, which is expected to be its largest to date sources told…

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