Independent music company Primary Wave Music has acquired the assets of Sun Records, the iconic Memphis-based label which released the first recordings from Elvis Presley, Johnny Cash, Jerry Lee Lewis, and many others. The deal includes some 6,000 recordings, its logo and brand, according to the New York Times. Seller was Sun Entertainment Corporation, which acquired in 1969 the company from founder Sam Phillips. Terms of the deal were not disclosed, but the NY Times puts it in the region of $30 million.
Warner Music Group is in talks to buy a minority stake in Rotana Music, the largest music company in the Middle-East, in a deal that would value the music company at close to $200 million, according to the Wall Street Journal. Rotana is owned by Saudi billionaire Prince al-Waleed bin Talal. The WSJ said the two companies plan to pool their respective catalogues for online distribution and would give WMG more direct access to the Middle East.
Downtown Music Holdings is acquiring advertising and digital marketing platform Found.ee for an undisclosed amount. Found.ee provides artists, managers and labels with a range of tools to build, target and optimise promotional campaigns. The platform is used by over 25,000 artists and labels from around the world. “Our acquisition of Found.ee, its technology, and unique expertise in both the digital advertising and music industry ecosystems, is an ideal complement to Downtown’s existing portfolio of artist and label services,” said Downtown CEO Justin Kalifowitz.
Big Hit Entertainment, the South Korean company that produces boy band BTS, is planning to acquire a substantial share of competing K-Pop company YG Entertainment, for 70 billion won ($63m). According to Variety, the deal will see Big Hit, and its subsidiary beNX, invest 30bn won and 40bn won, respectively, in YG affiliate YG Plus, acquiring a 17.9% stake in YG Plus in the process. Seoul-based YG Entertainment was founded by Yang Hyun-suk in 1996 has counted among its artists girl band Blackpink, Bigbang and Psy.
Sony Music Masterworksis launching XXIMRecords, a new label focusing on the development of innovative, progressive instrumental music around the world, covering genres such as neo-classical, post-rock, electronic, and ambient sounds. The label is based in Berlin with additional A&R support in New York. Alexander Buhr, Senior Vice President of International A&R and Business Opportunities for Sony Classical, will oversee XXIM's creative operations working closely with Per Hauber, president of Sony Classical and co-head of Sony Music Masterworks. Buhr previously founded the post classical label Mercury KX, and has worked with artists such as Ólafur Arnalds, Anoushka Shankar, Lambert and Jean-Michel Blais. At launch, the label's roster included Eydis Evensen from Iceland, Franco-American composer Uele Lamore, Icelandic band Hugar; and German duo Stimming x Lambert.
Sony/ATV Music Publishing has signed a new representation deal with veteran songwriter Mark James, renewing a long-standing alliance with Screen Gems/EMI spanning roughly 50 years. The deal includes extended rights for three of James' top songs: 'Suspicious Minds', 'Hooked on a Feeling', and 'Always on my Mind'. James wrote songs performed by Elvis Presley, Willie Nelson, Brenda Lee, Bill Withers, Lou Rawls, Michael Bublé, Jay-Z, among many others. "My relationship with Screen Gems-EMI Music goes back to 1971 and I’ve enjoyed a mutually beneficial relationship working with Sony/ATV marketing and promoting my catalogue. I’m thankful that in 2021, my songs are still being embraced by new generations of listeners around the world," said James.
American singer-songwriter Priscilla Block has signed a global publishing deal with Warner Chappell Music Nashville. Block is signed to Universal Music Group’s label Mercury Nashville.
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