A substantial stake in the songs written for The Beatles by Jon Lennon has been sold off by son Julian.
Post death, John’s royalties were passed to his family, and his son Julian has sold off a part of it to Primary Wave, a music publishing company.
Primary wave does not own the songs or the recordings, and cannot decide how they will be used. Yet, they will receive payments when Lennon’s songs are played, performed live or recorded on CD.
Tracks which are labeled as classics such as, All You Need Is Love, Sgt Pepper’s Lonely Hearts Club Band and Lucy in the Sky with Diamonds are a part of the catalogue.
Larry Mastel, CEO, Primary Wave said that he was thrilled to partner with Julian and be a part of music history. He also refused to reveal the worth of th deal, as also confirming that, they will also market Julian Lennons’s new music project.
Julian was quoted as saying,
I felt it was the appropriate time to take on a partner for both my interest in my father’s legendary music and for my future music endeavours.
He himself has had an up and down career in music, with his hits being Too Late For Goodbyes in 1984 and 1991’s Saltwater. His new album is yet to release.
The list of catalogues owned by Primary Wave are those of Kurt Kobain and Nirvana, which they acquired last year. The recordings of The Beatles is owned by EMI, while Michael Jackson and Sony jointly hold their publishing rights.
