Reservoir Media has acquired the publishing catalog of jazz composer Billy Strayhorn.
The Nasdaq-listed company, which announced the deal on Monday (October 19), will also participate in Strayhorn’s name, image, and likeness rights in partnership with the Strayhorn estate.
The acquisition builds on a relationship between Reservoir and the estate (Billy Strayhorn Songs, Inc.) that dates back to 2014.
Reservoir did not disclose the financial terms of the deal.
The company says its work with the estate has included supporting celebrations for the Strayhorn Centennial in 2015, which marked 100 years since the composer’s birth.
Reservoir‘s most recent annual report on Form 10-K says that in 2014 the company acquired the catalog collection of First State Media Group (FS Media), “adding the catalogs of Sheryl Crow, John Denver, Billy Strayhorn, Evanescence and Creed, among others.”
FS Media’s holdings included songs from DreamWorks Music Publishing, which Variety reported had acquired Strayhorn’s catalog in 2001.
Reservoir‘s announcement did not specify how the Strayhorn rights it held before this week’s deal differ from those it has now acquired.
Born in Dayton, Ohio, in 1915, Strayhorn was a composer, lyricist, pianist, and arranger.
He joined Duke Ellington‘s band in 1939, and the two collaborated until Strayhorn’s death in 1967.
Songs in Strayhorn‘s catalog include Take the ‘A’ Train, Lush Life, Chelsea Bridge, and Satin Doll.
Strayhorn lived as an openly gay man and was a civil rights advocate who worked with Martin Luther King Jr. and Bayard Rustin, according to Reservoir.
“The responsibility for managing a legacy is a serious and daunting undertaking,” the Strayhorn estate said in a statement.
“We are so pleased to have partnered with the Reservoir team for the past 12 years. Our collaboration has allowed us to expand Strayhorn’s legacy with the help of sensitive partners who valued our opinions, our ideas and our feelings.”
“Our collaboration has allowed us to expand Strayhorn’s legacy with the help of sensitive partners who valued our opinions, our ideas and our feelings.”
Billy Strayhorn Songs, Inc.
“It has been a privilege working alongside the Strayhorn estate for more than a decade to honor Billy’s extraordinary legacy and introduce his music to a whole new generation of listeners,” said Suzy Arrabito, Vice President of Marketing and Communications at Reservoir. “He was a defining voice in American music, whose sophisticated compositions and singular music perspective helped shape the sound of an era and continue to influence artists today.”
Arrabito added: “We are proud to be the stewards of his remarkable catalog and remain committed to championing his timeless work, ensuring his music continues to be heard, celebrated, and discovered by audiences for many years to come.”
Strayhorn‘s songs have been recorded by artists across jazz, pop, and classical music.
Tony Bennett and Lady Gaga‘s Cheek to Cheek, which features a version of Lush Life, debuted at No. 1 on the Billboard 200 in 2014 and won the Grammy for Best Traditional Pop Vocal Album in 2015.
“He was a defining voice in American music, whose sophisticated compositions and singular music perspective helped shape the sound of an era and continue to influence artists today.”
Suzy Arrabito, Reservoir Media
Strayhorn was inducted into the Songwriters Hall of Fame in 1984.
In June, he was named to the North Carolina Music Hall of Fame‘s Class of 2026 ahead of the Hall’s induction ceremony in Mooresville on October 15. He spent part of his childhood in Hillsborough, North Carolina.
On September 30, Broadway actor Brian Stokes Mitchell sang Take the ‘A’ Train with the New York Philharmonic at Gustavo Dudamel‘s inaugural gala.
Dudamel, who conducted the concert, began his tenure as the orchestra’s Music and Artistic Director in September.
The Strayhorn deal follows Reservoir‘s acquisition of Miles Davis’ music publishing catalog, announced in September 2025.
The New York Times reported that the Davis deal included 90% of Davis’ music publishing rights and of the estate’s income from his recordings.
As with Strayhorn, Reservoir partnered with the Davis estate on name and likeness opportunities.
The NYT estimated the deal’s value to be within the USD $40 million to $60 million range that Reservoir CEO Golnar Khosrowshahi described as the company’s “sweet spot” for deals.
In an interview with MBW in October 2025, Reservoir President and Chief Operating Officer Rell Lafargue was asked whether the structure of the Davis deal was a blueprint for future deals.
“Yes, we would always prefer to do this type of deal,” Lafargue said. “I’d say over 90–95% of the time it’s not available.”
He pointed out that artists are signed to record deals whose rights “can remain in place for a long time.”
Lafargue added: “This will be our preference to aim for these things. However, it must be an icon.”
“It has to be incredible music. It always starts with the music,” he said, noting that Reservoir was “not going to get into 360 deals just for the sake of it.”
Reservoir deployed approximately USD $120 million across acquisitions and advances in its fiscal year ended March 31, 2026.
The company’s revenues grew 11% YoY including acquisitions, or 6% organically, to USD $175.7 million in that fiscal year.
In calendar Q2 2026 (its fiscal Q1 2027), Reservoir generated USD $41.5 million in revenue, up 12% YoY, or 6% organically.
In March, Reservoir disclosed two unsolicited take-private proposals from existing shareholders.
Activist investor Irenic Capital Management proposed USD $10.00 to $11.00 per share, while Wesbild and Richmond Hill Investments made a rival bid of USD $10.50 per share.
Wesbild, which holds approximately 44% of Reservoir’s equity, is controlled by Khosrowshahi’s father.
A Special Committee of independent directors on Reservoir‘s board was formed to evaluate the proposals.
On the company’s most recent earnings call in August, Khosrowshahi said Reservoir had “no additional updates to share today” on the matter.Music Business Worldwide
