Personal fairness agency KKR & Co will purchase a majority stake in Grammy award-winning songwriter and producer Ryan Tedder and American pop rock band OneRepublic’s music catalog that features hits similar to “Counting Stars” and “Apologize”.
KKR, with investments in TikTok mum or dad ByteDance and music firm BGM, can even have publishing and recorded music rights to the catalog that has almost 500 songs, together with these co-written with common acts similar to Beyonce, Girl Gaga, Paul McCartney and U2.
The catalog is valued at almost $200 million, a supply with data of the matter mentioned. KKR declined to touch upon the deal worth.
Tedder’s administration and artist growth corporations can even participate within the fairness transaction, KKR mentioned on Monday.
Document label Interscope Data will proceed to personal the grasp recordings of OneRepublic, of which Tedder is the frontman.
KKR mentioned it needs to increase the attain of Tedder’s music, with its funding expertise in digital, media, and music companies.
Tedder has additionally written songs with Stevie Surprise, Ed Sheeran, Cardi B, and the Jonas Brothers.
Keller, Turner, Andrews & Ghanem represented Tedder and OneRepublic, whereas Latham & Watkins and FTI Consulting served as advisors to KKR on the transaction.