Los Angeles-based Publishing company Bug Music, whose roster of songs include “What a Wonderful World” and 250,000 others, is being sold to BMG Rights Management. The deal is said to be worth $300 million dollars.
BMG currently owns the rights to recordings from Crosstown Songs, Cherry Lane Music Publishing, Stage Three Music, Evergreen Copyrights and Chrysalis group. Bug Music represents music by Johnny Cash, Woody Guthrie, Eminem, Kings of Leon, Wilco, The National, and many others.
“With the acquisition of Bug Music and its vast collection of evergreen and contemporary compositions, BMG further establishes itself as a leading music rights management company,” said CEO of BMG Rights Management Hartwig Masuch. “We look forward to working with Bug Music’s exceptional roster of artists and songwriters.”
The deal will reportedly finalize sometime in October.
Nashville songwriter Paul Burch had some thoughts on the matter, posting on Facebook: “Bug Music was bought by BMG which means for us songwriters that asking for help will be like being from the Duchy of Grand Fenwick and trying to get a driver’s license to ride a 4-piston motorbike in Germany…on Tuesdays.”
Billboard reports that Bug CEO John Rudolph is suing the sellers of Bug to make sure he is properly paid during the sale.
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