Jem Aswad Executive Editor, Music HarbourView Equity Partners, the asset-management company founded by Sherrese Clarke Soares, announced today it has agreed to partner with and purchase “select” recorded-music assets of Grammy-winning rapper-singer Nelly, a rep for the company confirms to Variety.
Further terms of the deal were not disclosed, although TMZ reported that the deal was for $50 million and covered half of Nelly’s recorded-music assets.
Nelly was represented by Steven Shapiro of Davis Shapiro Lewit & Grabel LLP. The deal includes some of Nelly’s most iconic tracks such as “Ride Wit Me,” “Dilemma” featuring Kelly Rowland, and “Hot in Herre,” both of which topped the Billboard Hot 100 for multiple weeks.
Nelly said, “As artists, we put our heart and soul into each track and there comes a time when you consider preservation of that artistry.
Read more on variety.com
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