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Stock impact report

The Weeknd Closes Catalog Partnership With Lyric Capital Said to Be in $1 Billion Range, ‘Unique' Deal ‘Sets New Standard for Artist Equity and Control' [Yahoo! Finance]

Sony Group Corporation American Depositary Shares (SONY) 
Company Research Source: Yahoo! Finance
from inception through 2025, reps for the artist confirm to Variety. The deal sees the Weeknd — real name: Abel Tesfaye — and his team maintaining creative control over the catalog and remaining shareholders and owners in the company. The rep notes that the joint venture is not a conventional catalog sale: “From the beginning of the meeting, it was clear to all at Lyric that Abel would not sell his catalog. He wanted to be more innovative and creative in the way we established a partnership. To that end, through this venture, we constructed and launched a new business model with Abel and his iconic catalog whereby Abel and his team have the freedom to execute their creative vision with the entirety of his rights, both publishing and masters. This unique catalog deal sets a new standard for artist equity and control.” More from Variety The Weeknd and Playboi Carti's 'Timeless' Started as a Backstage Jam - Now It's a Global Smash The Weeknd's 'After Hours Til Dawn' Tour Surpasse Show less Read more
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