PRIMARY WAVE CONFIRMS JV DEAL WITH BLACKWELL
Primary Wave has confirmed reports of its JV deal with Blue Mountain Publishing, launched by Chris Blackwell in 1962 and home to the legendary Bob Marley's biggest hits and songs by reggae greats Toots and the Maytals, rockers Free, folkie John Martyn and current acts Chronixx and Skip Marley. The JV deal, priced at $50m, also provides for Blackwell to continue to sign artists under the new Blue Mountain/Primary Wave Music banner.
This is the third big pub deal since the end of 2017, with SONGS going to Kobalt for $160m in December and Carlin Music picked up by Round Hill last week for $240m.
"I am thrilled to be taking Blue Mountain Music into the future with the structure that Primary Wave has in place," says Chris Blackwell. He goes on, "I have known [PW chief] Larry Mestel for a long time and am thrilled about this partnership and genuinely excited about the future of music."
The story was first reported by Variety and The New York Times.
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