Atticus Works, a new literary and theatrical catalog acquisition company, today announced its launch in strategic partnership with Primary Wave Music.
Primary Wave has confirmed it is backing the company with a minimum of USD $100 million in investment. Allen & Company LLC acted as financial advisor to Primary Wave Music in connection with the transaction.
A press release said that Atticus Works would look to acquire “literary and theatrical catalogs, partnering with authors, estates, and their advisors to unlock the full potential of beloved works while honoring the author’s legacy and vision”.
In this way, it said, Atticus Works will mirror Primary Wave Music’s successful artist-first partnership model, as seen in its previous work with the estates of Bob Marley, Whitney Houston, Donna Summer, Prince and many more.
Atticus Works was founded by Richard Hurowitz, a writer, publisher, and investor. He is the founder of Octavian, an international investment firm, and publisher of The Octavian Report, a magazine of ideas covering geopolitics, economics, culture and books.
His most recent book, In the Garden of the Righteous, was published by Harper and his writing on history, finance and culture has appeared in numerous publications, including the New York Times, the Wall Street Journal, the Financial Times, the Los Angeles Times, and Time.
Richard Hurowitz, founder and CEO, Atticus Works, said: “The literary and theatrical backlist represents one of the most compelling and underserved opportunities in media today. I have worked for many years at the intersection of finance, literature, and ideas, and Atticus Works brings those worlds together. Our goal is to ensure that our culture’s greatest literary works find the audiences and resources they deserve.
“Larry Mestel and his team have built something truly extraordinary at Primary Wave Music, a visionary, artist-first company that has transformed how iconic catalogs are managed and valued. We are thrilled and honored to have them as our partners, and to bring their expertise, capabilities, and creativity to our writers.”
Lexi Todd, Deputy COO, Primary Wave Music, said: “Teaming up with Richard Hurowitz to invest in iconic literary properties fits like a glove with Primary Wave Music’s longstanding strategy of building, nurturing, and reimagining timeless intellectual property.
“We’re thrilled to align with Richard’s vision and deep connections in the literary world, and we see this partnership as a perfect complement to our mission of elevating iconic content into enduring cultural touchstones.
“We look forward to building a business around protecting the stories that people already love, while also bringing them to life for new audiences for generations to come.”Music Business Worldwide