BMG has acquired a substantial stake in the work of US music icon Paul Simon.
The company has purchased his royalty income in Simon & Garfunkel recordings, as well as his neighbouring rights income.
Paul Simon struck a music publishing acquisition deal with Sony Music Publishing in 2021
Simon & Garfunkel are among the world’s best-selling artists of all time and winners of seven Grammy awards. Tracks including The Sound Of Silence, The Boxer, Mrs Robinson and Bridge Over Troubled Water have been streamed hundreds of millions of times.
Influential albums include Wednesday Morning, 3AM (1964), Sounds Of Silence (1966), Parsley, Sage, Rosemary & Thyme (1966), Bookends (1968) and Bridge Over Troubled Waters (1970).
Thomas Scherer, BMG’s president, repertoire & marketing, Los Angeles and New York, said: “In any list of the true greats, Paul Simon stands as one of the pillars of popular music history. We will play our part to ensure his music continues to be honoured and respected.”
BMG CEO-designate Thomas Coesfeld said: “We are delighted to have secured the agreement of Paul Simon for BMG to acquire his royalty interests in Simon & Garfunkel recordings and his neighbouring rights income. This is a significant transaction. Our ability to secure this deal demonstrates once again that BMG provides the best home for the greatest artists.”
In the past two years, BMG has concluded acquisitions for rights and/or royalties in the work of artists and/or songwriters including Tina Turner, John Legend, Mötley Crüe, ZZ Top, Mick Fleetwood, Peter Frampton, Harry Nilsson, John Lee Hooker, Simple Minds, Primal Scream, Jean-Michel Jarre, and most recently The Hollies, among others.
The company concluded more than 45 acquisitions over the course of 2022. The latest transaction forms part of BMG’s long-term strategy to create a home for iconic music rights.
BMG already represents or owns rights in the work of artists including Mick Jagger and Keith Richards, Tina Turner, George Harrison, John Lennon, Ringo Starr, Harry Nilsson, Buddy Holly, Jim Croce, Roger Waters, Kurt Cobain, Blondie, David Bowie, Scorpions, The Kinks, Black Sabbath, Iron Maiden, and more.
Paul Simon was represented in the transaction by Gene Salomon and Don Passman at Gang, Tyre, Ramer, Brown & Passman.
Photo credit: Jake Edwards, courtesy Paul Simon Music
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