TEDDER'S NEW DIRECTION: DOWNTOWN

It’s official: Downtown Music Publishing has struck a deal with Ryan Tedder to represent his new work and has acquired more than 170 compositions he wrote outside of OneRepublic. In a deal that had been rumored about earlier this month, Downtown will also help expand his Patriot Games Publishing company.

Sources say the deal is valued at $65-70 million, with Downtown substantially outbidding all comers.

Downtown will provide global royalty collection, copyright administration and creative marketing services to Tedder and his growing roster of songwriters, among them OneRepublic collaborator Noel Zancanella.

Tedder’s compositions that will be in Downtown’s portfolio include "Halo" by Beyonce, "Rumor Has It" and "Turning Tables" by Adele and "Bleeding Love" by Leona Lewis.

In speaking about Tedder, Downtown CEO Justin Kalifowitz said "He is that rare combination of creativity, drive, and business acumen that has not only resulted in his own success but continues to inspire everyone invested in the future of songwriting."

"Songwriting has been the cornerstone of my career in music ever since I started writing in Nashville in 2001," said Tedder. "I'm genuinely excited about my partnership with Downtown, which has become one of the most progressive publishing companies in the world. They truly understand both the art and business of songwriting, and I'm looking forward to what we'll build together."

Still no word on whether it includes his song cycle about Ron Laffitte.