With a growing number of musical legends recently selling off their catalogues, the famed Sun Records has now also been sold.
Independent New York music company Primary Wave Music has acquired Sun Records' assets from Sun Entertainment Corporation, the family-run company that bought the label from Sun founder Sam Phillips in 1969, the New York Times reports.
The sale includes the label's recordings, its logo and brand. But while the sale comprises legendary Sun recordings by Johnny Cash, Jerry Lee Lewis, Carl Perkins and the Dixie Cups, it does not include Elvis Presley's Sun catalogue, which is still owned by Sony.
"Sun is as iconic a record label as there is," said Larry Mestel, the founder of Primary Wave. "Its legacy needs to be nurtured."
The details of the deal, such as its price, was not disclosed, but the New York Times estimates the sale to be around the $30 million USD mark.
Independent New York music company Primary Wave Music has acquired Sun Records' assets from Sun Entertainment Corporation, the family-run company that bought the label from Sun founder Sam Phillips in 1969, the New York Times reports.
The sale includes the label's recordings, its logo and brand. But while the sale comprises legendary Sun recordings by Johnny Cash, Jerry Lee Lewis, Carl Perkins and the Dixie Cups, it does not include Elvis Presley's Sun catalogue, which is still owned by Sony.
"Sun is as iconic a record label as there is," said Larry Mestel, the founder of Primary Wave. "Its legacy needs to be nurtured."
The details of the deal, such as its price, was not disclosed, but the New York Times estimates the sale to be around the $30 million USD mark.
Recent months have seen the likes of Neil Young, Bob Dylan and Lindsey Buckingham making huge catalogue sales.
