Jem Aswad Senior Music Editor Primary Wave Music, a top player in the music-catalog and publishing boom, has joined forces with Brookfield Asset Management in a $2 billion deal to invest in music copyrights, the companies confirmed.
The news was first reported by the Wall Street Journal. Brookfield, which is new the space, will take a significant minority interest in Primary Wave, and commit $1.7 billion to fund a permanent capital vehicle focused on acquiring music rights from top acts.
Primary Wave Music is primarily a music publisher but has become a leader in the catalog-acquisition business with its ability to market those catalogs biographical films, Broadway shows, song interpolations and brand deals.
Its assets include interests in the catalogs of Whitney Houston, James Brown, half of the Prince estate, Fleetwood Mac’s Stevie Nicks and more.
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