According to consequence.net artist John Fogerty has purchased the majority interest in the Creedence Clearwater Revival catalog after a 40-year fight. Back in 1980 Fogerty gave away the to Saul Zaentz’s Fantasy Records because Fogerty needed to get out of a contract which he signed in 1968.
Fogerty tried his best to get CCR’s catalog back but Fantasy Records made the situation harder by suing Fogerty for plagiarism. Also the record label used CCR’s royalties to help finance a couple of popular movies such as One Flew Over the Cuckoo’s Nest, Amadeus and The English Patient, which won the Academy Award for Best Picture.
Then in 2004 Concord bought Fantasy Records which restored Fogerty’s artist royalties. Also Fogerty was set to regain another portion of the US rights under US copyright law when the CCR songs turned 56-years-old. Soon enough Fogerty’s wife and manager Julie Fogerty took the advantage of negotiating the majority control of worldwide rights.
In the following statement Julie Fogerty mention what her intentions while negotiating for the majority control of worldwide rights.
“While John is having the time of his life out there on the road, with his kids playing with him and celebrating this music, [I thought], why can’t we take those few years left [before the titles revert] and not have them give them to us, but we’ll buy them. Whatever the value plus a little bonus. We’ll figure out how to come up with the money and we’ll just buy that. [Concord’s] not going to lose because they’ll have the value.” said Julie Fogerty
The deal is closed for an undisclosed amount of money which includes most of the popular songs such ad “Fortunate Son,” “Bad Moon Rising,” “Proud Mary,” “Down on the Corner,” “Up Around the Bend,” “Green River” and more.
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