Report: Deal In The Works For Phil Collins, Genesis and Mike & The Mechanics Catalogs
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It’s not uncommon for artists to sell their catalogs these days, and according to “Billboard” a huge deal is in the works that involves not only Phil Collins' catalog, but the catalogs of both Genesis and Mike Rutherford’s band Mike & The Mechanics.
The mag says the deal is in the “final” stages, although they did not note which company is buying the catalogs. At the beginning of the year there was a report that Collins was shopping his solo stuff for more $200 million, but now the package is even bigger.
"Billboard" suggests the deal, which includes names and likenesses, could be valued somewhere between $335 million and $375 million, if all the artists fully own their master recordings.
Source: Billboard
