HarbourView Equity Partners has announced its second deal with a US hip-hop star this week.
The company has agreed to purchase what it calls “select recorded music and publishing assets” of multi-platinum selling, Grammy and Golden Globe-nominated artist Wiz Khalifa.
The deal comes just hours after HarbourView announced that it had acquired “select recorded music assets” of Grammy Award-winning rapper, Nelly.
Financial terms of the Nelly deal were not disclosed, but TMZ reported that Nelly secured $50 million for 50% ownership of his entire catalog.
Terms of the Wiz Khalifa transaction were not disclosed either.
Assets in the deal with Wiz Khalifa include his hits See You Again, Black & Yellow, and The Thrill, and span his career across dozens of albums, mixtapes, and collaborations with what HarbourView calls “some of the biggest names in entertainment”.
Wiz’s career in entertainment spans a variety of businesses and media genres, including ownership of independent record, management company and lifestyle brand – Taylor Gang.
HarbourView was founded by former Tempo Music CEO Sherrese Clarke Soares with backing from Apollo Global Management.
The company says that it owns a catalog of over 20,000 songs, encompassing both master recordings and publishing income streams.
“Wiz Khalifa has already made a profound impact on culture as a musician, executive, media visionary and creative force.
Sherrese Clarke Soares, HarbourView
Sherrese Clarke Soares, Founder and CEO of HarbourView, said: “Wiz Khalifa has already made a profound impact on culture as a musician, executive, media visionary and creative force.
“We celebrate his talent and creativity and are thrilled to welcome him and Taylor Gang to the HarbourView family today.”
“Sherrese and HarbourView truly understand the value of music and artistry.”
Wiz Khalifa said: “Sherrese and HarbourView truly understand the value of music and artistry.
“We are excited to partner with them as they continue to build a dynamic media company that is in line with the values and goals we all have here at Taylor Gang.”
Music Business Worldwide