Global investment firm KKR & Co. Inc. (KKR), and three-time Grammy award winning songwriter, producer and lead vocalist of OneRepublic Ryan Tedder, said Monday that KKR has agreed to acquire a majority stake of the music catalog of Tedder and OneRepublic, including music publishing and recorded music rights. Financial terms of the deal were not disclosed.
Following the acquisition, Tedder will retain an interest in his music alongside KKR. Tedder's management, Patriot Management, and artist development company mtheory, through its MTC Music Royalties fund, will also participate in the equity transaction. Interscope Records will continue to own the master recordings of OneRepublic.
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