Last year music executive LA Reid sold 100% of his music catalogue to Hipgnosis Songs Fund [click here if you missed that].
Now John Legend has sold his music rights as well...
From The NY Daily News
The singer, songwriter and producer is the latest star to sell his music catalog.
Like some of pop music’s greatest such as Bob Dylan, Bruce Springsteen, Neil Young, Tina Turner and Stevie Nicks, Legend has cashed in by selling the rights to his catalogs of songs and recording royalties.
According to a public filing back in September, cited by Bloomberg, the 12-time Grammy Award-winning crooner sold both the copyrights to and royalties from music he wrote from late 2004 through early last year.
BMG Rights Management, the international music company which has worked with the artist since acquiring his music publisher, Cherry Lane Music Publishing Co., in 2010, bought the rights, in partnership with the private equity firm KKR & Co.
Financial terms were not disclosed.
