The revitalized Primary Wave, backed by institutional investors including BlackRock, has acquired a share of reggae legend Bob Marley’s music publishing catalog.
The New York Times reports that Blackwell signed a $50 million deal that gives Primary Wave an 80 percent share of Island Records founder Chris Blackwell’s two publishing catalog -- Marley’s songs and Blue Mountain Music.
Blue Mountain's catalog includes songs from Marley, Toots and the Maytals, Free, U2, and the Waterboys, according to the company's website.
Primary Wave was founded by former record label executive Larry Mestel in 2006. The company sold the the bulk of its catalog to BMG in 2013, and then started rebuilding its catalog when it acquired the writer's share of Smokey Robinson catalog in 2016, with the backing of a $300 million war chest from BlackRock and other institutional investors.
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