Irenic Makes Unsolicited Bid for Sheryl Crow, Joni Mitchell Music Catalog-Owner Reservoir Media

Activist hedge fund Irenic Capital Management has made an unsolicited offer for Reservoir Media Inc., an independent music publisher whose song catalog features Joni Mitchell, John Denver and Sheryl Crow, according to people familiar with the matter.

Irenic, one of Reservoir’s largest shareholders, submitted a bid for the company this month worth $10 to $11 per share, or about $1.1 billion to $1.2 billion, including debt, said the people, who asked to not be identified because the matter is private. The stock soared as much as 15% Thursday, the most since 2024.