LOS ANGELES (CelebrityAccess) — BMG announced it has acquired a “substantial stake” in Paul Simon following the acquisition of the music legend’s royalty income from his recordings with Art Garfunkel, as well as his neighboring rights income.
Simon & Garfunkel produced an impressive catalog that includes albums such Wednesday Morning, 3AM (1964), Sounds Of Silence (1966), Parsley, Sage, Rosemary & Thyme (1966), Bookends (1968) and Bridge Over Troubled Waters (1970), containing hits such as ‘The Sound Of Silence’, ‘The Boxer’, ‘Mrs Robinson’ and ‘Bridge Over Troubled Water’ which have each been streamed hundreds of millions of times.
“In any list of the true greats, Paul Simon stands as one of the pillars of popular music history. We will play our part to ensure his music continues to be honored and respected,” stated BMG President of Repertoire & Marketing Thomas Scherer.
“We are delighted to have secured the agreement of Paul Simon for BMG to acquire his royalty interests in Simon & Garfunkel recordings and his neighboring rights income. This is a significant transaction. Our ability to secure this deal demonstrates once again that BMG provides the best home for the greatest artists,” added BMG CEO-designate Thomas Coesfeld.
Paul Simon was represented in the transaction by Gene Salomon and Don Passman at Gang, Tyre, Ramer, Brown & Passman.
The financial details of the transaction were not disclosed.
