(CelebrityAccess) — Amid seemingly unprecedented demand for music catalog, recording artist and songwriter John Legend has sold his catalog to a partnership between BMG Rights Management and DL Music IP LP, an affiliate of private equity giant KKR.
According to Bloomberg, who first reported the catalog sale, Legend sold his copyrights as well as his royalties to music he wrote from 2004 through early 2021, with each partner in the sale taking a 50% stake.
The deal is the latest in a series of high profile catalog sales by marquee artists, including Bruce Springsteen, Bob Dylan, Neil Young, Paul Simon, and Stevie Nicks, among others.
The deal was not announced by BMG or KKR and closed in September, according to regulatory filings obtained by Bloomberg.
The financial terms of the deal were not disclosed.