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Legend (Photo: DFree / Shutterstock.com)
JOHN LEGEND is the latest artist to sell his music catalog, reports BLOOMBERG, selling the copyrights and royalty rights to a 50-50 partnership of KKR & CO.'s DL MUSIC IP LP and BMG RIGHTS MANAGEMENT for an undisclosed price. A regulatory filing indicated that the deal was struck in SEPTEMBER but not announced at the time.
The KKR and BMG partnership previously purchased the catalog of ZZ TOP (NET NEWS 12/21/21). LEGEND's music publisher, CHERRY LANE, is owned by BMG, which also partnered with DUNDEE PARTNERS to buy music catalogs from KOBALT CAPITAL last OCTOBER for $1.1 billion (NET NEWS 10/19/21).
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