Paul Simon Sells ‘Substantial Stake’ of Music Catalog to BMG
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BMG has acquired a “substantial stake” in the work of legendary songwriter and two-time Rock & Roll Hall of Fame inductee Paul Simon, the company announced Thursday. The acquisition includes his royalty income in Simon & Garfunkel recordings as well as his neighboring rights income; Simon sold his publishing catalog to Sony Music Publishing in 2021.
While terms of the transaction were not disclosed, a source tells Variety that the deal, which covers Simon’s work with the duo but not his solo recordings, was among the “most significant” of many the company has done in recent years.
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According the the announcement, the deal includes such iconic Simon & Garfunkel hits as “The Sound Of Silence,” “The Boxer,” “Mrs. Robinson” and “Bridge Over Troubled Water.” The duo were among the most successful acts to come out of the 1960s and their music, nearly all of which was written by Simon, has proven to be among the most enduring as well.
Paul Simon was represented in the transaction by Gene Salomon and Don Passman at Gang, Tyre, Ramer, Brown & Passman.
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 honored 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 neighboring 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 recent 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.
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.
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