In a landmark music rights deal, American rock band ZZ Top sold their "entire music interests" to both BMG and KKR. The estimated value of the deal was a substantial $50 million. Source

The deal, announced in February 2021, granted BMG and KKR the rights to ZZ Top's recordings, publishing, and merchandise. This acquisition marked the first joint venture between the two companies in the music industry. Source

ZZ Top, formed in 1969, is known for their distinctive blues-infused rock sound and iconic beards. Their discography includes hits like "La Grange," "Tush," and "Sharp Dressed Man." Source

Music rights, including recording rights and publishing rights, are a significant aspect of the music industry. These rights determine who owns the intellectual property of a musical composition or recording. Source

Music rights societies, such as ASCAP, BMI, and SESAC, help manage and collect royalties for songwriters and publishers. Source

In the ever-evolving music industry, deals like ZZ Top's highlight the importance of understanding music rights and the potential value they hold.