Heart guitarist Nancy Wilson sells rights to back catalogue
Nancy Wilson of American rock band Heart has become the latest artist to sell the rights to their back catalogue.
Round Hill Music said it had acquired a “significant share” of the guitarist’s master artist royalties – which include the 1986 number one power ballad These Dreams.
Wilson was inducted into the Rock & Roll Hall of Fame in 2013 with her sister and long-standing bandmate Ann, and later that year they received a star on the Hollywood Walk of Fame.
Joining the fledging group in the early 70s, San Francisco-born Wilson helped develop its radio-friendly rock sound and their commercial breakthrough came in 1975 with the release of their double platinum debut album Dreamboat Annie.
The deal also includes administration rights on Wilson’s neighbouring rights income.
The company did not disclose how much it paid for the rights but pointed out it would be in part funded from the 86.5 million dollars it raised from investors in July.
It is unclear how much money will be spent on this deal.
Wilson, 67, said: “I’m honoured to be working with the good people at Round Hill and am looking forward to an ongoing working relationship.”
Josh Gruss, chairman and chief executive of Round Hill and the company’s investment manager, added: “Nancy has had astonishing success over the last 45 years.
“She is an icon and the longevity of her music is a testament to her incredible talent.”
Last week, the company purchased rights to a catalogue of hits including 308 recordings from artists such as Rage Against The Machine, Nickelback, Alice Cooper and Mudvayne.
The sale is the latest in a series of major acquisitions, with heritage artists including Bob Dylan, Neil Young and Bruce Springsteen selling the rights to their extensive back catalogues in multimillion-dollar deals.
Earlier this week, the late David Bowie became the most recent artist whose rights were sold.