Reservoir Media, Inc. Special Committee Retains Financial Advisor and Independent Legal Counsel
Rhea-AI Summary
Reservoir Media (NASDAQ:RSVR) said its independent Special Committee has retained Morgan Stanley & Co. LLC as financial advisor and Wachtell, Lipton, Rosen & Katz as independent legal counsel on May 1, 2026.
The Special Committee will evaluate previously announced non-binding proposals from Irenic Capital Management and from Richmond Hill and Wesbild. Reservoir said it will not comment further unless additional disclosure becomes appropriate and that there is no assurance any definitive agreement or transaction will result.
Positive
- Special Committee formed to evaluate strategic proposals
- Retained Morgan Stanley as independent financial advisor
- Retained Wachtell, Lipton, Rosen & Katz as independent legal counsel
Negative
- Proposals are explicitly non-binding
- Company disclaims any assurance a transaction will occur
- Company will not comment further unless disclosure is appropriate
News Market Reaction – RSVR
In the May 4 session, RSVR declined 0.60%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 10 | Take-private notice | Neutral | +0.0% | Notice to shareholders about pending $10.50 take-private offer and investigation. |
| Mar 10 | Catalog expansion | Positive | +0.0% | Expanded worldwide publishing deal with composer Hans Zimmer and his catalog. |
| Mar 04 | Takeover proposal | Positive | +2.1% | Confirmed $10.50 per share non-binding proposal and formation of Special Committee. |
| Mar 03 | Indication of interest | Positive | -1.2% | Non-binding indication to acquire equity at $10.00–$11.00 per share in cash. |
| Feb 04 | Earnings results | Positive | +3.7% | Q3 FY2026 results with $45.6M revenue and raised full-year guidance. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent RSVR news tied to proposals and earnings often saw aligned reactions, but strategic updates have also produced flat or divergent price moves.
Over the last few months, RSVR’s news flow has centered on strategic interest and steady growth. On Mar 3, 2026, a non-binding indication from Irenic at $10.00–$11.00 per share was followed on Mar 4 by a $10.50 proposal from Richmond Hill and Wesbild and formation of a Special Committee. Earlier, Q3 FY2026 results on Feb 4, 2026 showed revenue of $45.6M and raised full-year guidance. Today’s advisor and counsel appointment fits into this ongoing evaluation process.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK CITY, NY / ACCESS Newswire / May 1, 2026 / Reservoir Media, Inc. (NASDAQ:RSVR) ("Reservoir" or the "Company") today announced that the independent special committee (the "Special Committee") of the Company's board of directors (the "Board") has retained Morgan Stanley & Co. LLC as its financial advisor and Wachtell, Lipton, Rosen & Katz as its legal counsel.
The Special Committee was formed to evaluate the previously announced non-binding proposal letters the Company received from Irenic Capital Management, on the one hand, and Richmond Hill and Wesbild, on the other (together, the "Proposals").
Reservoir does not intend to comment on the Proposals unless and until it determines further disclosure is appropriate.
There can be no assurance that any definitive agreement will result from either of the Proposals or that any transaction will be consummated with Irenic, Richmond Hill, Wesbild or any other party.
ABOUT RESERVOIR
Reservoir is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London, Abu Dhabi, and Mumbai. Reservoir is the first female-founded and led publicly traded independent music company in the U.S. Founded as a family-owned music publisher in 2007, Reservoir represents copyrights and master recordings including titles dating as far back as 1900 and hundreds of #1 releases worldwide. Reservoir frequently holds a Top 10 U.S. Market Share according to Billboard's Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide's The A&R Awards and won Independent Publisher of the Year at the 2020 and 2022 Music Week Awards.
Reservoir also represents a multitude of recorded music through Chrysalis Records, Tommy Boy Music, and Philly Groove Records and manages artists through its ventures with Blue Raincoat Music and Big Life Management.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. Forward-looking statements are typically identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "outlook," "plan," "possible," "potential," "predict," "project," "should," "target," "would" and other similar words and expressions. Forward-looking statements in this press release relate to, among other things: Reservoir's anticipated financial condition, results of operations and performance, expected growth, plans and objectives for future operations, business prospects and market conditions. Forward-looking statements are based on the current expectations and beliefs of management and information currently available to management. These statements are inherently subject to a number of risks, uncertainties and assumptions, many of which are outside of our control and could cause future events or results to be materially different from those stated or implied in this press release, including the risk factors that are described in Reservoir's Annual Report on Form 10-K for the year ended March 31, 2025 and our other filings with the SEC available on the SEC's website at www.sec.gov or Reservoir's website at www.reservoir-media.com. Any forward-looking statement made in this press release speaks only as of the date on which it is made and Reservoir undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Media Contact
Reservoir Media, Inc.
Suzy Arrabito
Vice President, Marketing & Communications
sa@reservoir-media.com
www.reservoir-media.com
Investor Contact
Alpha IR Group
Jackie Marcus or Nathan Skown
RSVR@alpha-ir.com
SOURCE: Reservoir Media, Inc.
View the original press release on ACCESS Newswire