BMG announced on Thursday that it had acquired a substantial portion of the royalties belonging to Simon & Garfunkel’s Paul Simon. The agreement includes Simon’s royalty income from the Simon & Garfunkel recordings, as well as neighboring rights income.
Gene Salomon and Don Passman from Gang, Tyre, Ramer, Brown & Passman handled the negotiations for the singer. Thomas Scherer, BMG’s President of Repertoire & Marketing in Los Angeles and New York, explained in a statement:
“In any list of the true greats, Paul Simon stands as one of the pillars of popular music history. We will play our part to ensure his music continues to be honored and respected.”
BMG’s CEO-designate, Thomas Coesfeld, also said:
“We are delighted to have secured the agreement of Paul Simon for BMG to acquire his royalty interests in Simon & Garfunkel recordings and his neighboring rights income. This is a significant transaction. Our ability to secure this deal demonstrates once again that BMG provides the best home for the greatest artists.”
While the transaction’s financial terms remain undisclosed, insiders revealed that the deal includes Simon’s collaborative work with Garfunkel and not his solo endeavors. The Simon & Garfunkel hits included in the acquisition are ‘The Sound of Silence,’ ‘The Boxer,’ ‘Mrs. Robinson,’ and ‘Bridge Over Troubled Water.’
Paul Simon’s decision to sell a share of his royalties to BMG came after his previous strategic moves concerning his music rights. In 2021, he closed a major deal with Sony Music Publishing, selling his publishing catalog for approximately $250 million.
