Yesterday, Today, & FOREVER The King of Pop

Lennon’s son sells Beatles stake

Julian
Lennon has sold a "significant" stake of his share in the songs his
father John wrote for The Beatles.

John
Lennon’s songwriting royalties passed to his family when he died, and Julian
has sold a slice of these to US music publishing company Primary Wave.

The
firm will now receive payments when Lennon’s compositions are sold on CD,
performed live or played on the radio.

But
it does not mean Primary Wave owns the songs or recordings themselves and it
cannot decide how they are used.

The
rights to The Beatles’ recordings are owned by EMI, while the publishing rights
are jointly held by Michael Jackson and Sony.

The
catalogue includes classic tracks such as All You Need Is Love, Sgt Pepper’s
Lonely Hearts Club Band and Lucy in the Sky with Diamonds, which was inspired
by a picture Julian drew as a child.

"We
are thrilled to be partnering with Julian Lennon and to own a piece of music
history," Primary Wave’s chief executive Larry Mestel said.

The
company, which will also market Julian Lennon’s new music project, declined to
reveal how much the deal was worth.

Julian
Lennon said: "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."

Julian
Lennon has had mixed fortunes with his own music career – he is his best-known
chart hits were Too Late For Goodbyes in 1984 and 1991’s Saltwater. His new
album is due out later this year.

Primary
Wave owns several other music catalogues including those of Kurt Cobain and
Nirvana, which it bought last year.

http://news.bbc.co.uk/2/hi/entertainment/6553113.stm


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