Harmony has acquired the music publishing catalog of New York, Nashville, and London-based music writer, Mojo Music & Media.
The catalog consists of works of the bands REO Speedwagon, KISS, and Low-cost Trick.
The Mojo catalog spans 9 many years and contains greater than 30,000 songs together with 89 Billboard No.1 hits, including what Harmony says is “a exceptional collection of music” to its publishing portfolio of 800,000 songs.
The corporate says that the deal “additional highlights Harmony’s continued strategic development”.
Right this moment’s information arrives a week-and-a-half after we reported that Alchemy Copyrights, LLC, buying and selling as Harmony, has agreed phrases on a deal whereby it’s going to purchase everything of Spherical Hill Music Royalty Fund (RHM) – the UK-listed fund operated by Spherical Hill Music.
The deal values all the issued and to-be-issued share capital of RHM – which presently trades on the London Inventory Alternate – at roughly USD $468.8 million, the 2 firms stated in an announcement on September 8.
Mojo was based in 2018 by business veterans Mark Fried, Peter Shane, and Alan Wallis and supported since 2019 by funds managed by Crestline Traders Inc.
With a deal with strategic acquisitions of what it says are “culturally related songs”, Mojo acquired greater than 40 catalogs together with these of 30-year Nashville impartial HoriPro Leisure (REO Speedwagon, KISS, Jerry Reed) and LA-based Emerald Forest (Sophie B. Hawkins, Brownstone, Lita Ford).
Mojo’s roster consists of Rock and Roll Corridor of Fame inductees Rick Nielsen (Low-cost Trick) and Warren Cuccurullo (Lacking Individuals, Duran Duran), Nation Music Corridor of Fame members Bob Morrison (Lookin’ For Love), Sharon Vaughn (My Heroes Have At all times Been Cowboys) and Larry Gatlin (All The Gold In California) in addition to D.L. Byron (Shadows Of The Evening), Jeffrey Cohen (Freeway Of Love).
It additionally consists of Earth Wind & Fireplace’s Al McKay (September, Greatest Of My Love), English Beat and Normal Public’s Dave Wakeling (Save It For Later, Tenderness), Grammy award-winning songwriter Jordan Reynolds (author of Dan + Shay hits Tequila, Speechless, and 10,000 Hours), producer Jacknife Lee (Taylor Swift, Snow Patrol, and Kodaline) and the estates of Johnny Burke (Misty), Bernie Wayne (Blue Velvet) and Johnny Russell (Act Naturally)
“My almost 30-year journey in music publishing has at all times been about surrounding myself with the best songwriters, getting them paid, retaining them impressed, and elevating the facility of their songs in popular culture in order that they vibrate eternally.”
Mark Fried, Mojo
“My almost 30-year journey in music publishing has at all times been about surrounding myself with the best songwriters, getting them paid, retaining them impressed, and elevating the facility of their songs in popular culture in order that they vibrate eternally,” stated Mark Fried, Mojo’s Co-Founder and CEO.
Fried added: “Harmony has been on the identical mission since its founding, and my companions and I really feel like we’ve come full circle working with [Concord’s Chief Business Development Officer] Steve Salm, whom I’ve recognized and revered since his first days within the enterprise, and different previous associates at Harmony to convey our catalogs collectively.
“I really feel a deep duty to the artists, songs, and legacies we symbolize and I’m excited to see them proceed to prosper within the fingers of such succesful and passionate caretakers.”
“We’re delighted to have supported Mojo via their profitable ramp up and aggregation of their catalog.”
Michael Man, Crestline Europe
Michael Man, Chief Funding Officer of Crestline Europe, stated: “We’re delighted to have supported Mojo via their profitable ramp up and aggregation of their catalog.
All facets of our involvement with Mark and crew have been excellent. It’s a nice instance of our need to make use of our capital to construct worthwhile asset platforms.”
“Mark Fried is a real authentic who’s repeatedly seen the worth in songs and catalogs effectively earlier than market traits, at all times placing songwriters first.”
Steve Salm, Harmony
Steve Salm, Harmony’s Chief Enterprise Improvement Officer, added: “Mark Fried is a real authentic who’s repeatedly seen the worth in songs and catalogs effectively earlier than market traits, at all times placing songwriters first.
“During the last a number of many years, he’s constructed two premier impartial catalogs with Mojo right here and Spirit Music prior, successful the belief of a number of the most legendary songwriters and artists.
“With Mojo, Mark, Pete, and Alan have assembled a stellar assortment of unbelievable hits spanning genres, eras, and territories. The Mojo catalog is an ideal match with Harmony’s catalogs, and we’re honored by the belief they’ve now put in us.”
Harmony was represented by Ritholz Levy Fields LLP, Adam Ritholz, Cody Brown, John Brill, Gillian Sloane, Amanda Inglesh, and Jason Barth, and by DLA Piper, Rob Sherman. Shot Tower Capital acted as unique monetary advisor to Mojo. Mojo was represented by Reed Smith LLP as authorized counsel.
Since 2015, Harmony has deployed greater than USD $2.0 billion of capital and accomplished greater than 100 transactions throughout recorded music, music publishing and theatricals.
Its largest acquisitions to this point embrace its $550 million-plus acquisition of Imagem in 2017, and final yr’s acquisition ~$300m acquisition of music rights from Phil Collins and members of Genesis.Music Enterprise Worldwide