Warner Bros strikes $1bn deal for music catalogue including theme from Friends

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Warner Broce Discovery has made a deal over $ 1 billion to create a joint venture that will own and operate the film and television music about 100 years, which contains the theme Friend And the soundtrack Harry potter Movie in the movie.

Will collect money for the sale of one of the most valuable libraries owned by a big Hollywood studio WBD CEO David Jaslav is trying to raise the share price of the company and reduce its debt. The library includes a few recognized theme songs and scores such as the original John Williams’ Superman Score

Music rights will be sold in a joint venture with the UK -based Cutting Edge Group, a music financer and publisher, which will invest money to achieve portfolio and manage resources. The German Asset Manager is co-investigated in the DWS transaction.

This agreement is the latest of the growing popularity of music rights as a wealth class, attracting investors who want to benefit from earnings produced by streaming and performance.

In addition to ensuring that the CEG is being provided around the world, the licensing agreement will be given the responsibility to ensure that the music is trying to run income from the music.

Most of the revenue obtained from more than 5,700 compositions and song signals will be from the right to public performance, every time one of the movies or TV shows is seen worldwide fees.

Companies say that the joint venture created by the joint venture will be one of the largest music rights transactions by a wide range of copyright. WBD will maintain creative and operational control of music.

Portfolio also includes the music of such movies Lord Franchise, Rebel without a reason And Blade runnerAs well as TV shows Game of Thrones, Inheritance And West wingThe

CEG, founded by Entrepreneur Philip Moros in 2006, Protected last year $ 500 million for Debt O Funds for filming and buying music rights for film, TV, theater production and computer games. The portfolio of more than 2,000 titles includes the right to release the film AquamanThe

Moros, whose US media and entertainment agencies took several years to discuss this deal, described WBD’s music as “one of the main studios in Hollywood” as the iconic assembly of catalogs created by almost a century.

As an asset class, the right of music is “very good choice”, he added.

WBD President Paul Brucek for music says: “This partnership with CEG is the only way to expand our unparalleled music library while honoring our long history of strong creative supervision and protecting the integrity of compositions and artists.”

The CEG Chief Operating Officer Tara Fingan said that “the basic understanding of this expert music rights” was the best to manage a catalog that was “one of the best existing”.