zeplz71 Posted July 10, 2023 Share Posted July 10, 2023 July 10, 2023 --- By Murray Stassen The past few years have seen a number of deals struck for rights to music by iconic rock artists. In January 2022, for example, Warner Music Group, via its Warner Chappell Music subsidiary, acquired the global music publishing rights to David Bowie’s song catalog for more than $250 million. In December 2021, Bruce Springsteen sold both his masters, and publishing rights to Sony Music Group in a deal worth $550 million-plus. Now, a 10% stake in the music of iconic British rock band Led Zeppelin is up for sale. That stake is being sold by Helen Grant, the daughter of the band’s former manager, Peter Grant. The news was first reported by The Times on Monday (July 10), in an interview with Helen Grant. MBW understands that amongst the companies who approached Helen Grant for a deal prior to going public with the sale was Irving Azoff’s Iconic Artists Group, and that a number of other players have since made offers. According to The Times article, Peter Grant owned a 20% stake in Led Zeppelin’s music. His children Helen and Warren Grant each inherited 10% of that stake after their father’s death in 1995. Now Helen is selling her share. London-based New Media Law is the firm handling the sale. Speaking with MBW on Monday, the firm’s Ian Penman confirmed that the deal includes a share of recorded music rights, publishing rights as well as a stake in the rights to the band’s trademarks including name and logo. “Her father managed Led Zeppelin and owned 20% of the Zeppelin companies,” Penman told MBW. “So [the deal] is quite rare in that respect, because it includes trademarks. It includes the name. The name, Led Zeppelin, is owned by a company that Helen co-owns.” Led Zeppelin News, an unofficial news site dedicated to the band, reports that “the Grant family own stakes in two businesses within Led Zeppelin’s corporate empire”. Citing company filings in the UK, Led Zeppelin News notes that one of those businesses includes UK-based Superhype Tapes and that the business was established in 1968 to manage Zeppelin’s publishing, but also owns the global trademarks for the band’s name and logo. Peter Grant’s children Helen and Warren each own 10% of the company, reports Led Zeppelin News, while Jimmy Page owns the remaining 80%. The other business is UK-registered United Blag Productions, which Led Zeppelin News reports, “appears to be connected to Led Zeppelin’s record label Swan Song and controls the rights to music released on that label”. Led Zeppelin News adds that, “corporate filings suggest that United Blag Productions was originally split between the four Led Zeppelin band members who each owned 22.5% of the company, and Peter Grant, who owned 10%”. Speaking with MBW on Monday, New Media Law’s Ian Penman says that Helen Grant “considered selling the rights earlier this year,” and that “a mutual friend suggested to her that she might need the service of a lawyer to help her.” He added: “Fortuitously he recommended me”. Penman explains further that when Grant originally got the word out that she was considering selling her stake, she was approached with “several offers and extreme interest from some of the biggest names in the business”. Penman told MBW on Monday that Helen Grant instructed him to manage the sale around three months ago. “We immediately got on. I was a big Zeppelin fan growing up,” he said. “When I was 17, I had gone to see Zeppelin play at Knebworth, which was the last concert they played with John Bonham [in the UK], and she was at the same gig, a couple of years younger than me, but was backstage with her dad. We both talked about what an incredible concert it was, and how we were both extremely lucky to have been at it. So we had this kind of mutual bonding on that.” Penman says he “persuaded [Helen Grant] to go public” with the sale, because “we want to make sure that everyone that’s out there that might be interested, is aware of this, because it’s such an iconic [deal].” He added: “[Deals like this] just never happen really. And especially on one of your all-time favorite bands. It’s a dream world to be involved with the story at all.” Penman confirmed that talks are still ongoing with several interested parties. “Nobody has pulled out, and nor should they. Nor would they,” he said. “This is an iconic, one-off [deal].”Music Business Worldwide https://www.musicbusinessworldwide.com/a-10-stake-in-led-zeppelins-music-is-for-sale-heres-how-it-ended-up-on-the-market12/ Quote Link to comment Share on other sites More sharing options...
luvlz2 Posted July 10, 2023 Share Posted July 10, 2023 Wow! Amazing news! Quote Link to comment Share on other sites More sharing options...
The Only Way To Fly Posted July 11, 2023 Share Posted July 11, 2023 I'm going to start a go fund me! LOL Quote Link to comment Share on other sites More sharing options...
zeplz71 Posted July 11, 2023 Author Share Posted July 11, 2023 https://bravewords.com/news/led-zeppelin-10-stake-of-the-bands-music-available-for-sale and originating article / interview with Helen Grant from The Times (paywalled): https://www.thetimes.co.uk/article/led-zeppelin-peter-grant-daughter-helen-interview-8msn0nmxp Quote Link to comment Share on other sites More sharing options...
SteveAJones Posted July 11, 2023 Share Posted July 11, 2023 I hope the sale goes well for Helen, who looks phenomenal by the way. Quote Link to comment Share on other sites More sharing options...
zeplz71 Posted July 11, 2023 Author Share Posted July 11, 2023 https://www.musicweek.com/talent/read/new-media-law-to-manage-sale-of-10-stake-in-led-zeppelin/088182 New Media Law is managing the sale of a 10% stake in Led Zeppelin. The highly unusual acquistion opportunity has come about as Helen Grant has notified the law firm that she is willing to entertain offers. The 59-year-old inherited her share from her father, the band’s manager Peter Grant, following his death in 1995. Peter Grant owned a 20% stake, The Times reported, which was split equally between his children Helen and Warren Grant upon his death in 1995. While deals involving legendary acts are usually structured around sound recording and publishing rights, this covers a share in those rights as well as the band’s other business ventures, which encompass the trademarks and merchandise. It is the first time that a stake in Led Zeppelin’s business has been available for sale outside of the group members, Jimmy Page, Robert Plant and John Paul Jones, as well as the estate of the late drummer John Bonham. Helen Grant has appointed Ian Penman of New Media Law LLP to manage the sale. Representing high-profile entertainment companies and individuals, Penman is also a founding shareholder of the music rights management system Synchtank, and teaches Music business law for Tileyard Education’s MA Music Business Course. He was also a musician, playing keyboards for artists including John Parr and Dan Hartman. Ian Penman said: “This is a really special client for me, not only because Helen is such a lovely lady, but because I grew up on the music of Led Zeppelin, which is one of my all-time favourite bands. I was out front when Zeppelin played Knebworth in 1979 (with Bonham on drums, his last gig in England), and Helen and I bonded reminiscing about how truly great that concert was (she was, of course, backstage with her dad).” Parties interested in acquiring this stake should contact ian.penman@newmedialaw.biz at New Media Law in London. Quote Link to comment Share on other sites More sharing options...
zeplz71 Posted July 11, 2023 Author Share Posted July 11, 2023 (edited) Rights to 10% of Led Zeppelin back catalogue up for sale Jordan Potter Tue 11th Jul 2023 10.25 BST Although Robert Plant, Jimmy Page and John Paul Jones aren’t involved, ten per cent of the Led Zeppelin catalogue has now been put on the market. The move comes following several similar high-profile deals over the past few years. Other artists to have sold the rights to their music include Bob Dylan, Bruce Springsteen and Justin Bieber. To put things into perspective, in December 2021, Springsteen sold his masters and publishing rights to Sony Music Group for over $550million. Therefore, even just ten per cent of Led Zeppelin’s catalogue is looking at a rather handsome figure. The ten per cent up for grabs is currently owned by Helen Grant, the daughter of Led Zeppelin’s former manager Peter Grant. Following Peter’s death in 1995, Helen and her brother Warren Grant each inherited half of their father’s 20 per cent share in the catalogue. Helen is conducting the sale through the London-based firm New Media Law. According to several reports, Irving Azoff’s Iconic Artists Group are among several companies to have registered their interest in the product prior to Helen’s engagement with New Media Law. “Her father managed Led Zeppelin and owned 20% of the Zeppelin companies,” Ian Penman, a spokesperson for New Media Law, said in a new statement to Music Business Worldwide. “So [the deal] is quite rare in that respect because it includes trademarks. It includes the name. The name, Led Zeppelin, is owned by a company that Helen co-owns.” Penman explained that Helen “considered selling the rights earlier this year” and that “a mutual friend suggested to her that she might need the service of a lawyer to help her.” Adding: “Fortuitously, he recommended me.” “We immediately got on. I was a big Zeppelin fan growing up,” Penman revealed. “When I was 17, I had gone to see Zeppelin play at Knebworth, which was the last concert they played with John Bonham [in the UK], and she was at the same gig, a couple of years younger than me, but was backstage with her dad. We both talked about what an incredible concert it was and how we were both extremely lucky to have been at it. So we had this kind of mutual bonding on that.” Penman said he “persuaded [Helen Grant] to go public” with the sale because “we want to make sure that everyone that’s out there that might be interested is aware of this because it’s such an iconic [offer].” “[Deals like this] just never happen really. And especially on one of your all-time favourite bands. It’s a dream world to be involved with the story at all,” he concluded. https://faroutmagazine.co.uk/led-zeppelin-back-catalogue-for-sale/ Edited July 11, 2023 by zeplz71 Quote Link to comment Share on other sites More sharing options...
custard pie man Posted July 11, 2023 Share Posted July 11, 2023 not sure about value but would any of the remaining members have a reason to buy? just a thought Quote Link to comment Share on other sites More sharing options...
reids Posted July 11, 2023 Share Posted July 11, 2023 6 hours ago, custard pie man said: not sure about value but would any of the remaining members have a reason to buy? just a thought 10% extra wouldn’t change much for any band member in voting / leverage. The only potential advantage of an existing band member obtaining it would be as a benefit for keeping decisions within family or to leave as a gift / legacy… R😎 Quote Link to comment Share on other sites More sharing options...
zeplz71 Posted July 11, 2023 Author Share Posted July 11, 2023 Billboard _ Business News _ 07/11/2023 by Ed Christman If 10% of Led Zeppelin’s Catalog Is Up for Sale, What’s It Worth? Helen Grant, the daughter of the band's late manager Peter Grant, is reportedly shopping her stake -- and she could be in for a financial windfall. If Helen Grant, the daughter of late Led Zeppelin manager Peter Grant, is selling a 10% share of the band’s music assets, as reported by Music Week and The Times, she’s in for a very nice payout. According to that article, Grant owns not only an interest in the band’s record catalog and song publishing catalog but also a 10% share in other rights including trademarks, merchandising and other business ventures. When he died in 1995, Peter Grant, who owned a 20% stake in the band’s music assets, appears to have split that stake evenly between Helen and her brother Warren, leaving each of them a 10% share. While Led Zeppelin originally signed to Atlantic Records back in 1968, in 1975 the band started its own record label, Swan Song, and began issuing its music under that logo beginning with its fifth album, Physical Graffiti. Like other superstar acts of its day, the band later negotiated to obtain ownership of its entire recorded masters catalog, not just the Swan Song records, according to sources. It’s unclear if Led Zeppelin still owns the rest of the Swan Song catalog, which includes albums by Bad Company, the Pretty Things and Maggie Bell — and, if it does, whether Helen Grant has a stake in that and is offering it up for sale, too. At the very least, according to the most recent filing containing a list of shareholders for Bad Company Entertainment, the Peter Grant estate has a 20% stake in that company as well. It’s unclear if that interest is a part of any contemplated sale. The Music Week article reports that Helen Grant has hired Ian Penman of New Media Law to shop her share of the Zeppelin assets. Penmen didn’t respond to an e-mail request seeking to confirm the potential asset sale. Warner Music Group declined to comment, while queries to other possible press representatives for the band went unanswered. According to the last filing from Superhype Tapes Ltd — one of the dozen or so companies affiliated with the Led Zeppelin principals that have filings in Companies House (the U.K. equivalent of the U.S. SEC) — to include a list of shareholders (dated July 30, 2014), Led Zeppelin guitarist Jimmy Page owns 80% of the shares of Led Zeppelin music assets, while Helen and Warren Grant own 10% each. However, in the company’s July 25, 2000, filing, Page and the estate of Peter Grant were each listed as having a 50% stake in the company, while Page and fellow Led Zeppelin members Robert Plant and John Baldwin [aka John Paul Jones], as well as Joan Hudson of the band’s accounting firm, were listed as directors of the company. It’s unclear how or when the percentages changed and if it occurred through a negotiation or an earlier buyout of a portion of the Grant estate’s share in the company. It’s also unclear which Led Zeppelin assets fall under this company, although its incorporation document, filed in October 1969, states that it was established to manufacture, produce, buy, sell, exploit and deal in gramophone records, tapes, sound recordings and other sound bearing devices and musical instruments, among other possible business lines. On the other hand, as noted, Superhype Tapes appears to be one of about a dozen companies incorporated for Led Zeppelin that have listings in Companies House, although some of those listed companies are dormant. Consequently, it’s unclear which Led Zeppelin music assets fall under the control of Superhype Tapes. Another Led Zeppelin-affiliated company, United Blag Productions, shows Helen Grant with a 10% stake, while the other three living Led Zeppelin members each have 22.5%, as do the Bonham heirs, collectively. According to what appears to be incorporation papers for United Blag — filed under its previous name of Langwest on Aug. 16, 1974 — around the time of the formation of Swan Song, the purpose of the company was to act as managers for singers, musicians and other creative entertainers as well as to produce and distribute sound recordings of all kinds as well as handling pictures, films and TV show appearances of all kinds. Regardless of the incongruent ownership stakes listed for the Led Zeppelin members for Superhype Tapes and United Blag Productions, it looks like Helen Grant is selling a 10% stake in the band’s assets controlled by those two companies, which would mean she is selling a passive royalty income stream. Still, the iconic Led Zeppelin catalog remains a considerable economic driver — averaging just over 1 million album consumption units annually in the United States alone over the last three years. As such, Billboard estimates that the band’s master recordings catalog generates about $24 million in revenue annually and that after deducting for production and distribution, the band likely reaped about $21 million of that amount. If the recordings carried a 20 times multiple, that would give the Led Zeppelin recorded masters catalog a nearly $420 million valuation — 10% of which would be $42 million. Meanwhile, Billboard estimates that the publishing catalog averaged about $10.4 million annually over the last three years. After deducting a 10% administration fee, that would leave $9.4 million in revenue for the band, which at a 25 times multiple would be worth about $235 million. While that valuation uses a high multiple, which some music asset traders might question, that concern would likely be offset by the upside potential for generating additional revenue through synch licensing. While synch typically can comprise about 25% of a publishing portfolio’s revenue base, Led Zeppelin has been very selective in granting licensing opportunities, which likely has depressed the band’s overall publishing revenue. Billboard’s valuation model uses a much smaller percentage than 25% of revenue for synch royalties in extrapolating overall publishing revenue. Regardless of the publishing catalog’s valuation, it’s unclear how Grant would be paid from that considering that the principal songwriters in the band likely each own their publishing, as well as their songwriter share. On the other hand, it’s conceivable that the band, along with Grant, collectively owns its publishing, which would divide 50% among the four band members and the Grant heirs, leaving the other 50%, or $6.35 million, for the songwriters to split; or that Grant owned 20% of the publishing and the band members owned the remaining publishing stakes in each of the songs they composed. Either way, that could leave Helen Grant with a 10% stake in the publishing, or a 5% stake in the publishing revenue, resulting in a $15 million-$16 million valuation, if the Grant estate indeed does own a stake in the band’s publishing. But Billboard could find no mention of a Grant ownership stake in the sole Led Zeppelin publishing company that appears to be an ongoing operation, Flames of Albion Music, listed at Companies House. The last document for that company, filed on May 11, 2016, listed Page, Plant, Baldwin and the Bonham heirs — Patricia Bonham, Jason Bonham and Zoe Bonham — as shareholders, while neither of the Grant heirs are listed. But there is still merch revenue, trademarks and likeness and image to consider. Billboard estimates that Led Zeppelin averages about $2 million in merch each year. At a 10-times multiple, that would arrive at a $20 million valuation, with a 10% stake translating to $2 million. Collectively, Billboard‘s valuation for Led Zeppelin’s recorded music, publishing and merch is about $670 million. Quote Link to comment Share on other sites More sharing options...
Rodrigo Posted July 12, 2023 Share Posted July 12, 2023 Is Led Zeppelin's legacy secured with 80% of Jimmy? I mean taking care of the prestige of the band and everything it stands for since its inception. I don't want any decision to be made by men in suits and ties who only worship their God money. Quote Link to comment Share on other sites More sharing options...
SteveAJones Posted July 12, 2023 Share Posted July 12, 2023 If any of the surviving members were interested in obtaining Helen's 10% it could have been arranged privately, assuming she provided their management notice of her intent to sell. Regardless, if they wanted it they'd have gotten it. Quote Link to comment Share on other sites More sharing options...
SteveAJones Posted July 12, 2023 Share Posted July 12, 2023 6 hours ago, Rodrigo said: Is Led Zeppelin's legacy secured with 80% of Jimmy? I mean taking care of the prestige of the band and everything it stands for since its inception. I don't want any decision to be made by men in suits and ties who only worship their God money. Their musical legacy is secured as anything post September 25, 1980 is really brand management as opposed to band management. We've seen plenty of arguably questionable business decisions since then with regard to officially licensed merchandise. Quote Link to comment Share on other sites More sharing options...
Strider Posted July 12, 2023 Share Posted July 12, 2023 I did not win the Powerball last night so I have no chance. Quote Link to comment Share on other sites More sharing options...
custard pie man Posted July 14, 2023 Share Posted July 14, 2023 On 7/12/2023 at 1:32 PM, Strider said: I did not win the Powerball last night so I have no chance. remember Strider " you can't lose if you don't play" 😂, me just bought 4 tickets Quote Link to comment Share on other sites More sharing options...
rm2551 Posted July 28, 2023 Share Posted July 28, 2023 Powerball here is a hungie mil next week. Better belieeeeeeve I gotta ticket. I often imagine the Zep man-land hidden cellar pub that would inhabit this earth. Quote Link to comment Share on other sites More sharing options...
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