Primary Wave Music has acquired the publishing catalogs of Regent Music Corp. and Jewel Music, Billboard has learned.
The catalogs include such songs as “Pipeline” (Brian Carman, Bob Spickard) “Apache (Jump On it)” (Jerry Lordan), “More Today Than Yesterday” (Pat Upton), “Lonely Teardrops” (Berry Gordy Jr., Gwen Gordy and Roquel “Billy” Davis), “Silhouettes” (Bob Crewe, Frank Slay) “Abraham, Martin and John” (Dick Holler) and Christmas classics including “I Saw Mommy Kissing Santa Claus” (Tommie Connor) and “Do You Hear What I Hear?” (Noël Regney, Gloria Shayne).
Terms of the deal were undisclosed, but Billboard estimates that the catalogs generate about $1.5 million in net publishers share and carry a valuation of between $30 million and $35 million.
The Regent and Jewel publishing catalogs were founded by legendary music publishers Gene and Harry Goodman, brothers of legendary bandleader Benny Goodman. Gene, who is over 100 years old, along with his late brother Harry, trace their music publishing roots back to the early days of the Brill Building.
“The music business has been great to me, and I’ve had the pleasure of working with some of the most wonderful writers in the world,” Gene Goodman said in a statement. “I’m proud to see the catalogs moving to such creative and capable hands. I wish Larry, Amy, Ramon, and the entire team at Primary Wave great success in the years ahead. I’m certain they’ll take Regent and Jewel to the moon.”
Primary Wave has been extremely active in buying catalogs in recent months, including purchasing music rights from members of Def Leppard, Alice in Chains, Toto and America, as well as Henry Mancini and Paul Rodgers of Bad Company and Free. The company has also acquired stakes in the estates of James Brown, Whitney Houston and Prince.
Under the marketing slogan “Home Of Legends,” Primary Wave – which emphasizes its marketing, branding, digital strategy and licensing infrastructure – says it will leverage its platform to continue the legacies of both Regent and Jewel, in particular with new synch opportunities to enhance revenues and streams, along with pursuing other opportunities.
“With Tin Pan Alley roots, collections of jazz, soul, R&B, surf, and pop gems, and iconic holiday standards covered by artists crossing all genres, the Regent and Jewel catalogs are a living history of diversity in music,” Primary Wave general counsel Amy Ortner said in a statement on the deal. “We are truly honored to be entrusted with these great works and inspired to build on a remarkable 86 years of success.”
