Primary Wave Music has acquired the music catalog of Grammy-winning US rock band Huey Lewis and The News.
The company says that the deal encompasses the band’s entire commercially released music catalog from inception through 1994.
Terms of the agreement were not disclosed. Citing sources, Variety reports that the deal is for ‘around $20 million’.
Included in the partnership are some of the band’s biggest hits such as the Top 10 classics Heart of Rock & Roll, Hip To Be Square, Workin’ For a Livin’, and more.
Also included in the deal is the band’s 1985 single The Power of Love. Written for the blockbuster film Back to the Future, The Power of Love become the band’s first No.1 hit.
The single sold more than a million copies in the US alone.
Primary Wave says that terms of the deal also include access to the publishing firm’s marketing team and publishing infrastructure, which includes digital strategy, licensing, synch opportunities and film & TV production.
Huey Lewis & The News are: Huey Lewis (vocals and harmonica), Johnny Colla (saxophone, guitar, and vocals), Bill Gibson (drums, percussion and vocals), Sean Hopper (keyboards and vocals), Stef Burns (guitars and vocals) John Pierce (bass), and long-time horn section of San Francisco bay area luminaries: Rob Sudduth (tenor saxophone), Marvin McFadden (trumpet), and Johnnie Bamont (baritone saxophone).
Primary Wave’s latest acquisition follows last month’s news that Brookfield Asset Management struck a $2 billion deal with Primary Wave Music to invest in music rights.
As part of the deal, Brookfield acquired what the Wall Street Journal reported is a significant minority interest in Primary Wave.
Brookfield will also commit $1.7 billion to a fund to buy music rights.
The fund’s first acquisition was Joey Ramone’s music-publishing assets, which, citing sources, the WSJ reports cost around $10 million.
“Primary Wave look forward to working with Huey to create new opportunities for his storied song catalog into the future.”
David Weitzman, Primary Wave
Primary Wave Music’s David Weitzman, said: “In the 1980’s, everyone heard Huey Lewis and the News’s many smashes on radio and saw their iconic & fun videos which appeared on MTV in endless rotation.
“Their incredibly crafted songs still made me smile, remind me of that seemingly more innocent era, and make me want to sing along at the top of your lungs.
“Primary Wave look forward to working with Huey to create new opportunities for his storied song catalog into the future.”
“Our entire team is looking forward to working with them to generate new and exciting opportunities for their iconic catalog.”
John Luneau, Primary Wave
John Luneau, Primary Wave Music’s Senior Counsel, added: “We’re honored to welcome the music of Huey Lewis and the News to Primary Wave.
“Our entire team is looking forward to working with them to generate new and exciting opportunities for their iconic catalog.”
New York-headquartered Primary Wave has previously acquired rights to music by the likes of Prince, Bing Crosby, Luther Vandross, Chris Isaak, Teddy Pendergrass, Gerry Goffin, James Brown and many others.
The company also recently acquired all rights of Regent Music Corporation and Jewel Music Publishing Co., Inc., the publishing catalogs founded by music publishing legends Gene Goodman and his late brother, Harry.
Elsewhere, in June Primary Wave struck a “multi-million-dollar” deal with Academy Award-winning songwriter Tom Whitlock.
Also in June, the company acquired a stake in the music publishing catalog of Julian Casablancas, lead singer of rock band The Strokes.
In May, Primary Wave bought Bob Dylan’s share of supergroup The Traveling Wilburys, while in March, the company acquired all rights of Regent Music Corporation and Jewel Music Publishing Co., Inc., the publishing catalogs founded by music publishing legends Gene Goodman and his late brother, Harry.
In March, Primary Wave acquired all rights of Regent Music Corporation and Jewel Music Publishing Co., Inc., the publishing catalogs founded by music publishing legends Gene Goodman and his late brother, Harry.
In February, Primary Wave acquired music rights from the estates of Layne Staley and Mike Starr of Alice In Chains.
In January, Primary Wave bought an “additional” stake in Def Leppard’s music publishing catalog, as well as the band’s master royalty income stream.
Also in January, the company struck new catalog deals for a combined $60 million. Those deals included $20 million on a stake in Paul Rodgers’ music publishing catalog for Free and Bad Company, as well as his master recording income streams for both bands.
The other deal in January saw Primary Wave acquire Gerry Beckley’s and Dewey Bunnell’s rights in the America music catalog, in a deal worth $40 millionMusic Business Worldwide
