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The Beach Boys have confirmed that they have sold their catalog of music and other assets.
The Rock and Roll Hall of Famers announced Thursday that Iconic Artists Group, led by Music Director Irving Azoff, has purchased a controlling stake in their intellectual property, including “their sound recordings, the brand, certain musical compositions and memorabilia.” , by Variety.
As part of the deal, the Beach Boys and their heirs will retain an interest in their assets to “participate in the rise Iconic expects to create by actively marketing and promoting the Beach Boys.”
Other financial terms of the deal have not yet been disclosed.
NEW BEACH BOYS ALBUM LIKE “ 1965 ALWAYS AGAIN ”, SAYS MIKE LOVE
“The Beach Boys and our songs have been one of the greatest joys in our lives,” band members Brian Wilson, Mike Love, Al Jardine and Estate Carl Wilson said in a joint statement.
Clockwise from left, The Beach Boys are Al Jardine, Mike Love, Brian Wilson, Dennis Wilson and Carl Wilson. (Getty)
“For more than half a century, we have seen generations of fans from all corners of the world come together to celebrate our music, dance and sing along to the songs we love and perform for decades. As we look forward to The Beach Boys’ upcoming 60th anniversary, we wanted a partner to help expand opportunities for our brand, while continuing to uphold our tradition as a band whose music transcends the test of time. We are confident that Irving and Iconic are the ideal partners and are confident that the Beach Boys’ continued legacy is in good hands. We are very proud of what we have accomplished as Beach Boys and how our songs continue to resonate with our fans, ”the statement continued.
STEVIE NICKS IN $ 100M ON PRIMARY WAVE MUSIC PUBLICATION RIGHTS
Meanwhile, Azoff has called the Beach Boys an “American treasure” and is honored that the group “has entrusted Iconic with the care of preserving and developing its heritage.”
Other major artists have recently sold their music publishing rights. Bob Dylan sold the rights to all of his songs to Universal Music Group in December 2020 and Stevie Nicks sold the rights to his songs to Primary Wave Music at around the same time.
Citing people familiar with the transaction, the Wall Street Journal reported that the sale was made for $ 100 million, giving the company an 80% stake in the rights.
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The purchase also gives Primary Wave the rights to the Nicks name and likeness, and the singer will be allowed to recruit new songwriters in a joint venture.
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