The Red Hot Chili Peppers are the latest high-profile act to sell their music publishing rights, in a deal reportedly worth $140 million to $150 million struck with the British investment firm Hipgnosis.
Industry tracker Billboard cited anonymous sources in first reporting the sale of the catalog that includes hits like “Under The Bridge,” “Californication” and “Snow (Hey Oh).”
Neither Hipgnosis nor the band’s representatives immediately responded on Tuesday to AFP requests for comment.
As most of the songs were written collectively by band members Flea, Anthony Kiedis, John Frusciante and Chad Smith, the purchase required joint approval.
According to Billboard, Hipgnosis…
Keep on reading: Red Hot Chili Peppers sell song catalog for $140 million, says Billboard