Independent music publisher Primary Wave is acquiring industry peer Kobalt, creating a larger player in a sector that is gained value in the streaming era.

The deal brings together Kobalt, which typically accounts for about 35% of the top songs and albums each year in the U.S. and UK, and Primary Wave, a 20-year-old firm whose clients include Bob Marley, Prince, Stevie Nicks, James Brown, The Doors and many more. Kobalt’s roster includes Roddy Ricch, Max Martin, Karol G, Andrew Watt, Stevie Nicks, Phoebe Bridgers, The Lumineers, Gunna, Justin Quiles, The Foo Fighters, and Paul McCartney.

Streaming has helped add value to the publishing catalogs of artists from a range of eras, including contemporary ones. Published reports about the long-rumored merger pegged the value of Kobalt’s publishing rights at about $1.5 billion.

Brookfield, a strategic partner with Primary Wave, is making a new investment as part of the transaction.

After the merger, which is expected to be completed in the third quarter, Laurent Hubert and Kobalt’s current management team will remain a separate, stand-alone entity, the companies said.

“Over the many years Laurent and I have known each other I have always been impressed by the remarkable team he has built, as well as the extraordinary growth Kobalt has experienced under his leadership,” Primary Wave founder and CEO Larry Mestel said in a statement. “This acquisition will only enhance his efforts to provide creators individualized attention and specialized support at every stage of their journey and to provide a very significant amount of capital to Kobalt for continued growth.”

Hubert said Primary Wave “understands our vision of independence and the importance of our ‘creator first’ mindset driven by service, technology, and creativity. We are incredibly excited about our next chapter with them as our partner.”

After the close of the deal, Kobalt founder Willard Ahdritz will step down from his role as chairman of the board. He recalled founding the company 25 years ago, focused on the belief that “creators deserved better,” as he put it in a statement. “The digital music industry needed the technology, scale, and transparency of a modern tech company. We succeeded, empowering songwriters and creators to retain their rights, and helping establish music royalties as a recognized asset class along the way.”