Litmus Music has acquired Randy Newman’s share of his recorded music and publishing.
The music rights business is backed by Carlyle’s Global Credit Platform.
The acquisition encompasses the scores to popular Disney film franchises such as Toy Story, Cars, Monsters Inc and The Princess and the Frog. The catalogue includes Toy Story’s You’ve Got A Friend In Me.
The deal also includes Randy Newman’s hits from the 1970s to 1980s such as I Love LA, Mama Told Me Not To Come, Feels Like Home, You Can Leave Your Hat On, Short People, Baltimore and It’s A Jungle Out There.
“Following high-profile deals with Katy Perry, Benny Blanco and Keith Urban, this partnership with Newman further solidifies Litmus’s commitment to preserving and promoting iconic catalogues that resonate across generations,” said a statement. “Having operated at the highest levels of the music industry, Litmus’ founding members have collectively fostered deep connections to record labels, distributors, artist managers, and the artists themselves, with a mission to create value for artists and investors through the thoughtful management of music.”
“Randy Newman is a unique and brilliant songwriter, composer, and performer whose body of work has proven him to be an artist for the ages,” said Dan McCarroll, co-founder and chief creative officer of Litmus Music. “There is absolutely no one like him, and his influence on the music world cannot be overstated. We couldn’t be more proud and excited to acquire Randy’s catalogue of beautiful, witty and sharply observational songs.”
“Randy’s music has touched so many generations,” added Hank Forsyth, co-founder and chief executive officer of Litmus Music. “His songs continue to transcend time and illuminate films. Dan and I and the entire Litmus team are so grateful Randy has trusted us as his partner to care for these songs and recordings. It is an honour and responsibility we don’t take lightly.”
“Randy Newman’s music has been a staple of childhood memories and experiences for decades,” said Alex Popov, head of private credit at Carlyle. “Litmus Music continues to partner with the world’s leading artists to promote and drive value for iconic catalogues.”
Randy Newman’s many honours include seven Grammys, three Emmys and two Academy Awards, as well as a star on the Hollywood Walk of Fame. He is in both the Songwriters Hall Of Fame and the Rock and Roll Hall Of Fame, and has been awarded an Ivor Novello PRS For Music Special International Award as well as a PEN New England Song Lyrics of Literary Excellence Award.
PHOTO: Pamela Springsteen
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