The Swedish company behind ABBA's Voyage buys rights to the pop icon’s publishing and recording revenue in its first U.S. deal.
Nine months after turning down another suitor, the legendary vocalist finds a partner he can "entrust with my life’s work and future musical legacy."
The deal, which is likely worth at least $600 million, includes half of the late star's publishing and recorded masters catalog.
The iconic band is seeking a record $1.2 billion payday, according to sources.
The Creative Nation catalog includes songs performed by Sam Hunt, Harry Styles, Lady Gaga, Sam Smith, Carrie Underwood and more.
The singer's hits include "Don’t Tell Em," "Birthday Sex" and "Oui."
Also this week: BMG makes a pair of catalog acquisitions, a new SPAC is announced and more.
The Songwriters Hall of Fame inductee has co-written such instantly recognizable hits as “Tears In Heaven,” “Looks Like We Made It” and “Up Where We Belong.”
The London-listed fund said the $23.1 million sale would be used to pay down debt.
Higher interest rates pulled valuations down while streaming and publishing growth pushed valuations higher, according to a report from Shot Tower Capital.
