ZZ Top have sold all their publishing rights and back catalogue for an undisclosed fee.
The group have sold both to BMG and investment firm KKR.
While financial details for the deal were not disclosed, it’s expected to have attracted a multi-million dollar deal with the group having sold over 50million albums.
The deal will cover all the “music interests” of ZZ Top. The group’s manager, Carl Stubner said in a statement: “We are proud to continue working with and expand our long-standing relationship with BMG. This new deal ensures ZZ Top’s remarkable legacy will endure for generations to come.”
BMG CEO Hartwig Masuch added: “This deal is a testament to the success, staying power and continuing musical relevance of ZZ Top, but also to the power of our partnership with KKR.
“This agreement furthers our vision of providing artists and songwriters not just a financial exit, but also a vehicle committed to respecting and treasuring their artistry.”
This year, BMG have acquired the rights to the back catalogues of Mick Fleetwood, Tina Turner and Mötley Crüe.
Other artists who have sold their rights elsewhere include Paul Simon, Bob Dylan and Bruce Springsteen.
Back in July, ZZ Top‘s Billy Gibbons confirmed that the band will continue on following the death of Dusty Hill.
“We are saddened by the news today that our Compadre, Dusty Hill, has passed away in his sleep at home in Houston, TX,” remaining ZZ Top members Billy Gibbons and Frank Beard said in a statement in July.
“We, along with legions of ZZ Top fans around the world, will miss your steadfast presence, your good nature and enduring commitment to providing that monumental bottom to the ‘Top’. We will forever be connected to that ‘Blues Shuffle in C.’”
They added: “You will be missed greatly, amigo.”
Source: Music News – NME