Joey Ramone’s estate sells singer’s publishing rights for £9m
The estate of the late Ramones singer Joey Ramone has sold a share of his publishing rights for $10m (£8.9m).
The sale is part of a new partnership between publishing group Primary Wave Music and investment firm Brookfield Asset Management.
As the the wall street journal reports, the deal also includes non-exclusive rights to Ramone’s likeness and name. The publishing deal includes writing credits on numerous Ramones hits, including “Judy Is A Punk” and “I Wanna Be Sedated.”
In a statement, the singer’s brother, Mitchel Hyman, said: “I am deeply convinced of their eagerness to carry on his legacy and their sincerity in doing so in a way that will never compromise his credibility. I really look forward to it. to work with them.
Primary Wave’s Lexi Todd added in a statement (via Variety): “Joey Ramone was a total original – his songwriting, style and voice are all undeniably unique and instantly recognizable even today.
“A counterculture icon and driving force behind punk rock, Ramones demonstrated first-hand the power of music to influence culture and built a foundation that has influenced decades of musicians.”
Elsewhere, it was announced last year that Pete Davidson would play Joey Ramone in Netflix’s upcoming biopic I slept with Joey Ramone. The film was announced to mark 20 years since Ramone’s death, after a seven-year battle with lymphoma.
The film will be directed by Jason Orley, who worked with Davidson on The great adolescence and Pete Davidson: Living from New York and will be based on the memoir of the same name by Ramone’s brother, Mickey Leigh.
As the wave of publishing sales continues in the music industry, Ramone joins Phil Collins and Genesis in selling stakes in their catalog.
Elsewhere, Bruce Springsteen last year sold his masters and publishing rights to Sony Music in a combined deal worth around $500 million, while Bob Dylan sold the entire from his songwriting catalog to Universal Music Publishing Group in 2020, grossing around $300 million.
Neil Young also struck a deal with Hipgnosis Songs Fund in 2021, which bought 50% rights to his back catalog for an estimated $150 million.