In a major music rights deal, Gerry Beckley and Dewey Bunnell of the iconic American band, America, have sold their entire song catalog to Primary Wave Music Publishing. The deal, reportedly worth $40 million, includes classics like "Horse with No Name" and "Sister Golden Hair." Source: Music Business Worldwide

The sale of music catalogs has been a growing trend in the music industry, with artists and songwriters recognizing the financial potential of their back catalogs. Music rights, which include various types such as publishing, recording, and synchronization rights, can generate substantial revenue through royalties. Source: Billboard

Music rights societies like ASCAP, BMI, and SESAC play a crucial role in collecting and distributing royalties for songwriters and publishers. Understanding who owns the right to music and how music rights work is essential for artists looking to maximize their earnings. Source: ASCAP

This deal marks another significant investment by Primary Wave in music catalogs, following their acquisition of stakes in Paul Rodgers' catalog and the catalogs of the bands Toto and Deep Purple. Source: Variety