Music Company To Sell Songs For $100 Million?
ELVIS PRESLEY, QUINCY JONES and the BLACK EYED PEAS' song catalogues will reportedly be part of a multi-million dollar sale of a New York-based music company.
Bosses at Cherry Lane Music Publishing are reportedly seeking a buyer for their entire catalogue of songs, after executives at Universal Music Group, Warner Music Group and Sony expressed interest in the sale.
According to the New York Post, the company is estimated to take between $100 million (GBP50 million) and $150 million (GBP75 million) for the turn of acquisitions.
Cherry Lane - founded in 1960 by music producer/arranger Milt Okun - also boasts joint venture deals with Black Eyed Peas frontman will.i.am and hip-hop entrepreneur Damon Dash.