John Legend sold his publishing catalog and royalty rights to BMG and investment company KKR for an undisclosed amount, Bloomberg reports.
In accordance with regulatory documents, BMG Rights Management and KKR each purchased a 50% stake in the Legend catalog. The chord covers all of the music Legend wrote from late 2004 to early 2021, an impressive body of work that includes hits like “Ordinary People”, “Green Light”, “All of Me” and his award-winning 2014 track. at the Grammy and at the Oscars with Common, “Glory”.
Representatives from BMG, KKR and Legend did not return immediately Rolling stonerequests for comments.
Legend’s catalog is the second that BMG and KKR have acquired together since they announced a new partnership in March. In December, the music company and the investment company announced that they had associated themselves with the publishing rights to ZZ Top and any income from recorded music royalties and performance royalties (according to the regulatory documents, it appears the Legend deal was concluded in November, a month before the ZZ Top deal was announced). While they have only made two joint purchases so far, BMG and KKR have looked after separately during the catalog gold rush: BMG acquired the catalogs from Mick Fleetwood, Tina Turner and MÃ¶tley CrÃ¼e, while that KKR bought a controlling stake in Ryan Tedder’s publishing rights earlier this year.
While the majority of successful catalog acquisition deals announced in recent years have involved historical artists like Bob Dylan, David Bowie, Bruce Springsteen and Stevie Nicks, Legend is not the only contemporary artist or songwriter. to profit. Along with Tedder, hitmaker Ali Tamposi (whom he wrote for BeyoncÃ©, Camila Cabello, Kelly Clarkson and more) sold his publishing catalog to Influence Media, while Shakira and the Red Hot Chili Peppers sold their publishing rights. to the Hipgnosis Songs Fund of Merck Mercuriadis.