David Bowie's Music Catalog Formally Acquired By Warner Music Group For Whopping Amount [REPORT]

David Bowie's music publishing catalog found a new place six years after the hitmaker died.

On Monday, the Warner Music Group (WMG) announced that the company Warner Chappell officially acquired the global music publishing rights to Bowie's catalog. It also includes the late singer's posthumous album, "Toy," which he recorded with his group Tin Machine.

The amount were not initially disclosed. However, CNN Business revealed that the WMG secured the deal with $250 million.

"We are truly gratified that David Bowie's body of music will now be in the capable hands of Warner Chappell Music Publishing. We are sure they will cherish it and take care of it with the greatest level of dignity," Allen Grubman said.

The deal has been finally secured four months after WMG and the Bowie estate established an agreement that gave Warner Music the rights to the singer's catalog he recorded from 1968 to 2016.

WCM co-chair and COO Carianne Marshall said that Bowie's music catalog "is not merely a catalog." She noted that the past albums the singer made have timeless songs that remain as powerful as they were when they were first released.

Warner Group Happy with Acquisition

Even the WCM CEO Guy Moot expressed his gratitude that Bowie's estate chose them to be the "caretakers" of the singer's music catalog.

"All of us at Warner Chappell are immensely proud that the David Bowie estate has chosen us to be the caretakers of one of the most groundbreaking, influential, and enduring catalogs in music history. These are not only extraordinary songs, but milestones that have changed the course of modern music forever," he said, as quoted by People.

Aside from Bowie, WMG also finalized its partnership with Madonna and Cardi B.

Bowie's songs will soon make people recall the singer's heartbreaking last days. For what it's worth, he did not know about his terminal liver cancer three months before he died.

The documentary film, "David Bowie: The Last Five Years," revealed that Bowie received the news that his treatment needed to be stopped a day while filming the music video of "Lazarus." He eventually died on Jan. 10, 2016, days after releasing his 25th studio album, "Blackstar."

Aside from the liver cancer that took away his life, Bowie also suffered a heart attack in 2003 and fortunately survived the health scare.

Tags

David Bowie