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Katy Perry Sells Catalog to Litmus Music
  + stars: | 2023-09-18 | by ( Joseph Pisani | ) www.wsj.com   time to read: 1 min
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Katy Perry performs on stage during the Coronation Concert on May 07, 2023 in Windsor, Britain. Chris Jackson/Pool via REUTERS/File photo Acquire Licensing RightsSept 18 (Reuters) - Singer Katy Perry has signed a deal to sell rights to five of her studio albums released between 2008 and 2020 including "Teenage Dream" to Carlyle-backed Litmus Music, the music rights company said on Monday. "One of the Boys," "PRISM," "Witness" and "Smile" are the other four studio albums that are part of the deal. The five studio albums were released under Perry's contract with Capitol Records, whose former president Dan McCarroll is the co-founder of Litmus Music. With Perry, Litmus Music gets access to an artist who shot to fame in July 2008 with the track "I Kissed A Girl" and has earned 13 Grammy nominations and five MTV Video Music Awards.
Persons: Katy Perry, Chris Jackson, Carlyle, Dan McCarroll, Blackstone, Justin Bieber, Bob Dylan, Perry, Jaspreet Singh Organizations: Billboard, Capitol Records, Litmus, Litmus Music, MTV, Thomson Locations: Windsor, Britain, Bengaluru
And Ares raised $3.7 billion for a fund last fall geared specifically toward sports, media, and entertainment investments across private debt and private equity. Unlike private equity investing, where managers take stakes in companies or buy them, private credit investors lend to businesses and make money on interest payments. (Private investment firm KKR's media, entertainment, and sports portfolio includes Insider parent company Axel Springer.) Carlyle's $146 billion credit arm has also provided capital to Clair, a media tech company that specializes in live production services and audio products. The strategists said driving that uptick are private credit defaults that include so-called softer forms of default, like breaching a loan's terms and conditions, along with private credit portfolio companies having generally lower ratings and less diversified businesses.
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