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BMG And KKR Buy Entire Music Interests Of American Rock Band ZZ Top

Music company BMG and investment firm KKR & Co. Inc. (KKR), announced on Tuesday that they have acquired the entire music interests of ZZ Top, an American rock band.

Financial terms of the transaction remain undisclosed.

ZZ Top sells more than 50 million albums across the world.

The acquisition includes a buyout of the band's publishing catalogue and their income from recorded royalties and performance royalties.

Previously, BMG served as co-publisher and administrator of ZZ Top's publishing catalog.

"KKR is investing in the catalogue through its private credit investment funds and vehicles and will own its interest in the music through its recently launched Chord Music Partners platform," the companies said in a joint statement.

Latham & Watkins LLP served as advisor to KKR on the transaction.

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