Rush News

Invest in Rush - Sesac Bond Offering

According to an article from Dow Jones Newswires, Rush song royalties are being included in a $300 million bond issuance by Sesac Inc.:
"Bob Dylan's music was the soundtrack for the counterculture of 1960s America. Now it has become a selling point for an unusual bond offering being marketed to institutional investors and wealthy individuals. A privately held Nashville, Tenn., company is preparing a $300 million bond backed by the cut it receives as a middleman between music companies and songwriters and the outlets that broadcast their music. The company, Sesac Inc., has the exclusive rights to the public broadcast or performance of the music of Mr. Dylan, pop singer Neil Diamond, Canadian rock band Rush and jazz singer Cassandra Wilson..."
- Thanks to Ed at RushIsABand for the headsup!

1 comment:

  1. This isn't QUITE correct - SESAC only manages the performance rights for these groups in the USA, it does not own them - the groups still retain the rights themselves, but SESAC collects royalties from performances and broadcasts to pay to the artists. Similar to what ASCAP and BMI do --