David Bowie's heirs hand over the rights to the songs to Warner
The deal for an amount that exceeds $ 250 million for six decades of songs
David Bowie's heirs have decided to sell, after months of negotiations, the rights to the artist's song catalog to Warner Chappell Music for an amount that according to "Variety" exceeds 250 million dollars.
In this way almost all the music of the "White Duke" enters the Warner universe.
As early as September, the heirs had reached a global agreement with Warner Music for recordings from 1968 to 2016 including albums released after 2000 with Sony Music. A month later the "Financial Times" had unveiled the negotiations on the editorial catalog. But there are some constraints: Bowie, who died of cancer in January 2016, was very scrupulous in managing his catalog and the agreement does not include several singles and a 1967 album because those entitled to control the catalog only from 1968 onwards.
However, these are common practices: Bruce Springsteen, for example, sold the music and editorial catalogs to Sony for over half a billion dollars, while those of Bob Dylan went to Universal for almost 400 million and Sony always grabbed the rights to the production of Paul Simon for 250 million.
(Unioneonline / ss)
