Reports are saying that metal band Slipknot may soon be cashing in on rather large sale of their music catalog, according to LoudWire. Sources have said that the group is nearing completion of a deal with HarbourView Equity Partners that would be in the range of $120 million.
If the deal is made, Slipknot would retain the rights to their publishing, but they would turn over their master catalog that remains controlled by Warner Music Group. Warner had previously acquired the catalog from Roadrunner Records back in 2007.
As part of the sale, the new owners would receive a share of the band’s publishing and recorded master royalties. It is speculated that the combined royalty pool of all members could generate around $8.9 million annually. However, the report also states that not all the band members are on board with selling all their stakes at this time, which would lower the value by millions.
Sources also revealed that the deal that’s in play does not address future recordings. That would mean that any new material coming out would not fall under the HarbourView Equity Partners deal.
It is reported that HarbourView Equity Partners currently have a stake in such artists as Fleetwood Mac, Kelly Clarkson, Wiz Khalifa, George Benson and James Fauntleroy. Adding Slipknot to their collection would give them one of the biggest acts currently in the metal world as well as a reported $5.2 million in publishing royalties if only some of the band members agree to sell.
Photo Credit: Mauricio Alvarado
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