Pop music star Katy Perry has sold her stake in the master recordings and publishing rights of five studio albums for a purported $225 million.
The sale was made to Litmus Music, a music rights management company financially backed by the Carlyle Group private equity firm. While the Carlyle Group did not publicize the sales price, it was around $225 million, according to Variety.
The masters for Ms. Perry’s albums made between 2008 and 2020 — “One of the Boys,” “Teenage Dream,” “Prism,” “Witness” and “Smile” — are owned by Universal Music Group.
The deal was aided by the Grammy winner’s preexisting business relationship with executives at Litmus Music.
“Katy Perry is a creative visionary. … I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire,” Dan McCarroll, co-founder and chief creative officer at Litmus, said in a statement.
Mr. McCarroll was previously the president of Capitol Records, which published those five albums by Ms. Perry. Capitol Records is an umbrella label owned by Universal Music Group.
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