Jem Aswad-Senior: Last News

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Phil Collins and Genesis Sell Catalogs to Concord for $300 Million

Jem Aswad Senior Music Editor Phil Collins and his Genesis bandmates Tony Banks and Mike Rutherford have agreed to sell their publishing copyrights and “a mix of recorded music-income streams” to Concord Music Group, the company confirmed to the Wall Street Journal on Thursday. Sources told the publication the deal was for upward of $300 million. The deal includes the solo material of all three, most notably Collins’ multiplatinum solo albums and Rutherford’s band Mike & the Mechanics, which achieved chart success in the 1980s. The catalogs of Peter Gabriel and other former members of Genesis were not included in the deal. A rep for Concord tells Variety an official announcement will be made Friday morning.
variety.com

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