Funding agency HarbourView Fairness Companions has acquired “choose music and non-music belongings” from the Property of Quincy Jones.
HarbourView mentioned that the deal contains Jones’ recorded music and publishing belongings, in addition to different ancillary rights, together with his participation in The Recent Prince of Bel-Air.
As a part of the transaction, HarbourView notes that it’s going to “work in shut partnership with the Quincy Jones Property on go-forward initiatives tied to Jones’ identify, picture, and likeness”.
The corporate added: “By way of conversations with Quincy Jones’ kids, the events aligned round shared priorities of legacy preservation, training, and safety, making certain his music and likeness are thoughtfully stewarded, safeguarded from unauthorized or exploitative makes use of, corresponding to AI, and responsibly prolonged so future generations can absolutely perceive and recognize his international influence on music and tradition.”
A composer, producer, arranger, conductor, instrumentalist, file government, entrepreneur, and humanitarian, Jones produced three of Michael Jackson’s most profitable albums: Off the Wall, Thriller, and Unhealthy, in addition to the charity single We Are the World.
“As his kids, our accountability is to guard not solely the catalog, however the spirit and love behind it.”
Rashida Jones, on behalf of the Quincy Jones household
In his late 20s, Jones grew to become Vice President of Mercury Information, making historical past as the primary Black government at a serious US file firm.
“Our father was endlessly curious and all the time forward of his time,” mentioned Rashida Jones, on behalf of the Quincy Jones household. “Lengthy earlier than anybody talked about ‘multi-platform,’ he was already constructing bridges and connecting the dots throughout music, movie, tv, publishing, know-how and tradition, creating iconic juggernauts like Thriller, The Colour Purple, The Recent Prince of Bel-Air, and Vibe. These initiatives didn’t simply succeed; they grew to become the gold commonplace.
“What made him extraordinary was his means to see round corners and produce collectively the suitable individuals, concepts, and sounds to create timeless work repeatedly.
“As his kids, our accountability is to guard not solely the catalog, however the spirit and love behind it. HarbourView understands that legacy and has the imaginative and prescient and experience to assist be sure that future generations can really feel the total scope of his eternal influence.”
“Sherrese Clarke’s imaginative and prescient, cultural delight, and mission alignment give us nice confidence that our father’s legacy will probably be thoughtfully protected and carried ahead.”
Quincy Jones III
Chicago-born Jones, who died in 2024 on the age of 91, was named by TIME Journal as one of many six most influential jazz artists of the twentieth century. He received 28 Grammys in a profession spanning greater than six many years.
“Our father didn’t simply create hits, he constructed platforms that formed tradition throughout music, movie, media, and know-how,” mentioned Quincy Jones III (QD3).
“He believed innovation was a inventive device and embraced it early, from serving on the board of MIT to pushing the boundaries of what storytelling might be. He had a deep ardour for empowering future generations of creatives, and noticed know-how/innovation as a conduit if used ethically.
“HarbourView was the clear companion for our household: Sherrese Clarke’s imaginative and prescient, cultural delight, and mission alignment give us nice confidence that our father’s legacy will probably be thoughtfully protected and carried ahead.”
“Our partnership with the Property is rooted in deep respect for Quincy’s inventive imaginative and prescient and a long-term dedication to safeguarding his work.”
Sherrese Clarke, HarbourView Fairness Companions
HarbourView mentioned that “further bulletins and tributes will comply with within the coming weeks as collaborators and longtime inventive companions share reflections on Quincy Jones’ life, work, and enduring affect.”
Commenting on the deal, Sherrese Clarke, CEO of HarbourView Fairness Companions, mentioned: “Quincy Jones was not only a once-in-a-generation expertise, he was a once-in-a-century architect of tradition.
“Our partnership with the Property is rooted in deep respect for Quincy’s inventive imaginative and prescient and a long-term dedication to safeguarding his work, his likeness, and his affect for generations to come back.”
Fox Rothschild served as authorized counsel to HarbourView within the transaction, whereas Quincy Jones Property was represented by Gene Salomon and Don Passman at Gang, Tyre, Ramer, Brown & Passman. Monetary phrases weren’t disclosed.
HarbourView was established in 2021 by former Tempo Music CEO Sherrese Clarke, with backing from Apollo International Administration.
Only a few months in the past, the corporate secured $500 million in further debt financing from funding big KKR through a personal securitization backed by its music portfolio.
It adopted a earlier $500 million in debt financing secured by HarbourView in March 2024, by a personal securitization backed by its catalog of music royalties, and led by KKR.
This newest settlement marks the most recent in a collection of serious strikes from the corporate.
Acquisitive HarbourView has acquired over 70 music catalogs encompassing over 35,000 songs throughout each grasp recordings and publishing earnings streams.
The corporate’s portfolio contains music from T-Ache, James Fauntleroy, George Benson, Noel Zancanella, Fleetwood Mac’s Christine McVie, Pat Benatar, Neil Giraldo, Nelly, Jeremih, Wiz Khalifa, Kane Brown, Full Power and extra.
In September, Michelle Jubelirer and Arjun Pulijal have launched a brand new enterprise backed by a strategic funding from HarbourView Fairness Companions.
HarbourView additionally not too long ago entered right into a deal with steel band Slipknot to amass a majority stake of their catalog.
The deal included hits like Wait and Bleed, Duality, Psychosocial, and the Grammy-winning observe Earlier than I Overlook.Music Enterprise Worldwide
