According to Bloomberg, the New York private equity firm, Lyric Capital Group, is currently in ‘early’ talks with The Weeknd to sell his music catalogue for $1,000.000.000.00.
If completed, the landmark deal would see the superstar singer/songwriter free up funds while maintaining ownership of his music with his stake in his publishing rights and master recordings used as collateral.
Toying with the idea of giving up his famous stage name in pursuit of other creative outlets, the musician (born Abel Tesfaye) suggested that Hurry Up Tomorrow would be his last project as The Weeknd.
During a May interview with the The Hollywood Reporter, the Canadian-born talent said:
“We’re brainstorming it right now. I feel like we don’t have any definite answers, but I haven’t dropped it yet because I’m on tour, so I’ve still gotta get out there and see the fans.” And the now ?-year old told People magazine “Have I started? Yeah, it’s getting there.” “I mean, I’m on tour right now, so I can’t fully retire it.”
When pressed about whether the idea has brought up any emotions, the Grammy-winner simply replied “Oh, I can’t tell you too much.” And, admitting he finds the idea of being famous “weird,” he added “I’ve always wanted my work to be famous. I don’t know if I ever wanted to be famous, so that whole skill set I haven’t really mastered and I don’t plan to.” “It’s a weird situation, but here we are.”
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Author: Saul Goode
Photo: The Come Up Show