Non-public fairness agency KKR & Co will purchase a majority stake in Grammy Award-winning songwriter and producer Ryan Tedder and the music catalog of American pop rock band OneRepublic that features hits like “Counting Stars” and “Apologize.”
KKR, with investments in TikTok’s mum or dad firm ByteDance, and music firm BGM, can even have publishing and recorded music rights to the catalog that has practically 500 songs, together with these co-written with well-liked artists corresponding to Beyonce, Girl Gaga, Paul McCartney. and U2.
The catalog is valued at practically $ 200 million, stated a supply with information of the matter. KKR declined to touch upon the worth of the deal.
Tedder’s artist improvement and administration firms can even take part within the fairness transaction, KKR stated Monday.
The report label Interscope Information will proceed to personal OneRepublic’s grasp recordings, of which Tedder is the chief.
KKR stated it needs to broaden the attain of Tedder’s music, along with his funding expertise in digital, multimedia and music companies.
Tedder has additionally written songs with Stevie Marvel, Ed Sheeran, Cardi B, and the Jonas Brothers.
Keller, Turner, Andrews & Ghanem represented Tedder and OneRepublic, whereas Latham & Watkins and FTI Consulting served as advisers to KKR within the transaction.