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Artist News Business News Deals Labels & Publishers
BMG and KKR acquire ZZ Top music rights
By Andy Malt | Published on Wednesday 22 December 2021
BMG and KKR have clubbed all their Christmas money together and bought themselves every single music right ZZ Top had knocking about.
The music company and investment firm have a long history together, and in March this year formally announced a new alliance to get in on the latest music rights acquisition fad.
Through that alliance they’ve now acquired ZZ Top’s publishing catalogue, as well as the band’s royalty rights on the recordings side, for a reported $50 million. BMG was previously co-publisher and administrator of the band’s songs.
“This deal is a testament to the success, staying power and continuing musical relevance of ZZ Top, but also to the power of our partnership with KKR”, says BMG CEO Hartwig Masuch. “This agreement furthers our vision of providing artists and songwriters not just a financial exit, but also a vehicle committed to respecting and treasuring their artistry”.
Jenny Box, Partner at KKR, adds: “We are excited to invest in ZZ Top’s iconic music and we look forward to collaborating with BMG and ZZ Top to further amplify the reach of their catalogue”.
Also commenting on the deal is ZZ Top manager Carl Stubner of Shelter Music Group, the management company with which BMG has a wide-ranging partnership. He says: “We are proud to continue working with and expand our long-standing relationship with BMG. This new deal ensures ZZ Top’s remarkable legacy will endure for generations to come”.
The deal, of course, follows the death in July this year of ZZ Top bassist Dusty Hill.
