The estate of late Ramones bandleader Joey Ramone has sold a stake of the rights to the punk legend's music publishing catalogue for $10 million USD, Rolling Stone reports.
The accretion comes as part of a larger deal, amounting to $2 billion USD, between investment company Brookfield Asset Management and independent publisher Primary Wave Music, with the latter also securing non-exclusive rights to Ramone's name and likeness [via The Wall Street Journal].
"I'm happy to welcome Primary Wave as partners in my brother's interests in Ramones," Ramone's brother Mitchel Hyman (a.k.a. Mickey Leigh) shared in a statement. "I'm thoroughly convinced of their eagerness to perpetuate his legacy, and their sincerity about doing it in a way that will never compromise his credibility. I, very much, am looking forward to working with them."
Lexi Todd, VP of Business Affairs & Legal at Primary Wave Music, told Variety, "Joey Ramone was a total original — his songwriting, style, and voice are all undeniably unique and immediately recognizable still today. A counterculture icon and prime mover of punk rock, Ramones demonstrated first-hand the power of music in influencing culture and built a foundation that has influenced decades of musicians."
Ramone (born Jeffrey Hyman) was not the Ramones' primary songwriter, but the vocalist managed to pen some of their most perennial hits — like "I Wanna Be Sedated," "Judy Is a Punk," "Swallow My Pride," "Rock n' Roll High School" and "Beat on the Brat." Furthermore, a pair of posthumous solo albums were released after Ramone's death at the age of 49 in 2001.
Among the many artists and artists' estates selling music publishing rights in this economy, Phil Collins and Genesis joined the club last week and earned a decently respectable $300 million USD.
The accretion comes as part of a larger deal, amounting to $2 billion USD, between investment company Brookfield Asset Management and independent publisher Primary Wave Music, with the latter also securing non-exclusive rights to Ramone's name and likeness [via The Wall Street Journal].
"I'm happy to welcome Primary Wave as partners in my brother's interests in Ramones," Ramone's brother Mitchel Hyman (a.k.a. Mickey Leigh) shared in a statement. "I'm thoroughly convinced of their eagerness to perpetuate his legacy, and their sincerity about doing it in a way that will never compromise his credibility. I, very much, am looking forward to working with them."
Lexi Todd, VP of Business Affairs & Legal at Primary Wave Music, told Variety, "Joey Ramone was a total original — his songwriting, style, and voice are all undeniably unique and immediately recognizable still today. A counterculture icon and prime mover of punk rock, Ramones demonstrated first-hand the power of music in influencing culture and built a foundation that has influenced decades of musicians."
Ramone (born Jeffrey Hyman) was not the Ramones' primary songwriter, but the vocalist managed to pen some of their most perennial hits — like "I Wanna Be Sedated," "Judy Is a Punk," "Swallow My Pride," "Rock n' Roll High School" and "Beat on the Brat." Furthermore, a pair of posthumous solo albums were released after Ramone's death at the age of 49 in 2001.
Among the many artists and artists' estates selling music publishing rights in this economy, Phil Collins and Genesis joined the club last week and earned a decently respectable $300 million USD.
