Published Apr 27, 2007Julian Lennon has sold a share of his financial stake in Beatles songs co-written by his late father to a New York music-publishing firm. In a deal announced Friday, the 44-year-old singer and son of Lennon and his first wife Cynthia sold a "significant share of his financial stake in his dads songs to New York-based Primary Wave Music Publishing for an undisclosed amount.
"We are thrilled to be partnering with Julian Lennon and to own a piece of music history, Primary Waves chief executive Larry Mestel said in a statement.
The deal does not apply to John Lennons solo projects but theyll still be taking a cut of Julians inherited royalties from major Beatles hits, including "Lucy In The Sky With Diamonds, "All You Need Is Love and "Sgt. Peppers Lonely Hearts Club Band.,
"I felt it was the appropriate time to take on a partner for both my interest in my fathers legendary music and for my future music endeavours, Julian said.
As part of the deal, Primary Wave has agreed to help the singer market his next album, which is scheduled for release later this year.
The company also recently inked a deal with Courtney Love, acquiring the rights to 25 percent of the late Kurt Cobains songwriting catalogue for Nirvana tunes.