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Warner Bros Discovery has reached a contract worth more than $ 1 billion to create a joint investment that will be possessed and managed by almost 100 years of film and television music, including the topic from Friends and the sound record to Harry Potter Movies.
The sale of libraries, one of the most valuable owners of the main Hollywood studio, will collect money for WBD As Chief Executive Director David Saslav, he tries to increase the price of the company’s shares and reduce his debt. The library includes some of the most recognizable thematic songs and results, such as the original John Williams’ Superman achieve.
Music rights will be sold in a joint investment with Curno Edge Group based in the UK, a music financier and a publisher, who will invest money in acquiring some portfolio and property management. The German property manager DWS is a transaction investment.
The agreement is the latest that shows the growing popularity of musical rights as a class of assets, attracting investors who want to benefit from the revenue generated by streaming and performances.
CEG will get the task of ensuring that the fee are paid around the world, as well as trying to initiate revenue from music through a licensing agreement.
The vast majority of revenue of more than 400 000 compositions and signs of songs will be from public performance rights, taking a fee every time one of the films or TV show is watched around the world.
The companies said that the creation of joint investment would be one of the largest transactions of music rights according to the value, which will extend to almost 100 years of copyright. WBD will retain creative and operational control over music.
Portfelj also includes music from movies like Lord of the Rings franchise, Rebel without cause and Knife runneras well as TV shows including Game of Thrones,, Heritage and West wing.
CEG, founded Entrepreneur Philip Moross in 2006, Last year secured $ 500 million in debt financing to invest in creating and buying music rights for movies, TV, theater productions and computer games. His portfolio of more than 2,000 titles involves the right to post movies like Aquaman.
Moross, whose negotiations to conclude an agreement with the US media and entertaining companies have taken away for several years, described WBD music as a “iconic assembly of catalogs created for almost a century by one of the original Hollywood studies.”
As a class of assets, music rights “is still really liked,” he added.
Paul Broucek, president of the WBD for music, said: “This partnership with CEG is the perfect way to expand access to our incomparable music library, at the same time honoring our long history of strong creative surveillance and protection of the integrity of works and artists.”
Tara Finegan, Chief Operational Director CEG, said the company was best set up to manage the catalog who was “one of the best to exist” because it was an investor with a “fundamental understanding of these specialist music rights”.
