Another day, another catalog play – or plays, to be precise. HarbourView Equity Partners has reportedly acquired half of Nelly’s music IP in a $50 million deal and inked a separate agreement involving the professional efforts of Wiz Khalifa.
Word of the Nelly song-rights investment just recently came to light in early reports from Variety and (somewhat curiously) TMZ as well as a formal release; Apollo-backed HarbourView emailed Digital Music News today about the newer pact with Wiz Khalifa.
TMZ (which Variety cited in its piece) indicated that Newark-based HarbourView had closed “a $50 million deal for 50% ownership over” Nelly’s “entire catalog.” Meanwhile, the company itself relayed that it had agreed to “purchase select recorded assets” from the 48-year-old act.
Said “select recorded assets” extend to a number of well-known releases from the three-time Grammy winner, among them “Ride Wit Me,” “Dilemma,” and “Hot in Herre,” the purchasing party specified. Addressing the union in a statement, Nelly touched upon a desire to help his music reach new generations of fans in the long term.
“As artists, we put our heart and soul into each track and there comes a time when you consider preservation of that artistry,” the Austin, Texas, native communicated. “My music is my legacy which I want to last beyond me, continuing to make my existing fans happy while reaching new generations and new audiences. I am excited to partner with HarbourView to create opportunities for discovery of my music decades from now.”
Shifting to the agreement covering certain Wiz Khalifa projects, HarbourView told DMN that the transaction includes “select recorded music and publishing assets,” encompassing works like “See You Again” and “Black and Yellow.”
Commenting on her company’s tie-up with 35-year-old Khalifa, HarbourView founder and CEO Sherrese Clarke Soares, who previously founded and led Tempo Music, said: “Wiz Khalifa has already made a profound impact on culture as a musician, executive, media visionary and creative force. We celebrate his talent and creativity and are thrilled to welcome him and Taylor Gang to the HarbourView family today.”
And in remarks of his own, the 10-time Grammy nominee Khalifa said: “Sherrese and HarbourView truly understand the value of music and artistry. We are excited to partner with them as they continue to build a dynamic media company that is in line with the values and goals we all have here at Taylor Gang.”