Warner Bros Discovery Partners with a specialist investor for co -ownership of music rights portfolio
(Reuters) – Warner Bros Discovery and Cuting Edge Group, investor and media art manager, have created a joint investment for the co -ownership of the movie and TV music catalog, the companies said on Friday.
Warner Bros will maintain creative and operational control over music rights, although, in addition to being investing in the business, it will manage partnership together.
The German property manager DWS Group is also investing and sponsors the contract.
“Creating JV, by value, is one of the biggest contracts for music rights that are ever transported and covers almost 100 years of copyright,” the company statement said.
The companies will be together with the aim of maximizing the distribution and inclement potential of the music portfolio, the statement added.
Music portfolio, which contains more than 400 000 compositions and signs of songs, includes music from the franchise Harry Potter and Lord of the Rings, the DC Comics movies, as well as TV shows like Friends and Game of Thrones, among others.
Cutting Edge Group, founded in 2006, compiled a specialist portfolio of more than 2,000 titles on Soundtrack albums. Last year, he completed a debt of debt of $ 500 million.
(Reporting Juby Baba in Mexico City; Mounting Vijay Kishore)
