The estate of the late Ramones vocalist Joey Ramon has been sold for $10 million (8.9 million pounds).
The sale is part of a new partnership between Primary Wave Music publishing group and investment company Brookfield Asset Management.
According to the Wall Street Journal, the deal also includes non-exclusive rights to Ramon’s image and name. The publishing deal includes songwriting credits for many of the Ramones’ hits, including “Judy Is A Punk” and “I Wanna Be Sedated.”
In a statement, the singer’s brother, Mitchell Hyman, said: “I am fully convinced of their desire to perpetuate his legacy and of their sincerity in doing so in a way that will never jeopardize his credibility. I really look forward to working with them.
Lexi Todd of Primary Wave added in a statement (via Variety): “Joey Ramon was an absolute original — his songwriting, style and voice are undoubtedly unique and recognizable to this day.
“An icon of the counterculture and a pioneer of punk rock, the Ramones demonstrated first-hand the influence of music on culture and laid the foundation that has influenced musicians for decades.”
Elsewhere last year, it was announced that Pete Davidson would play Joey Ramon in the upcoming Netflix biopic “I Slept with Joey Ramon.” It was announced that the film was timed to coincide with the 20th anniversary of Ramon’s death after a seven-year battle with lymphoma.
The film will be directed by Jason Orley, who worked with Davidson on the films “Big Teenage Age” and “Pete Davidson: Live from New York,” and it will be based on the memoirs of Ramon’s brother Mickey Lee of the same name.
As the wave of publishing sales continues in the music industry, Ramone joins Phil Collins and Genesis selling shares in their catalog.
Elsewhere, Bruce Springsteen sold his master recordings and publishing rights to Sony Music last year in a total deal worth about $500 million, and Bob Dylan sold his entire songwriting catalog to Universal Music Publishing Group in 2020 for about $300 million.
Neil Young also struck a deal with Hipgnosis Songs Fund in 2021, which bought 50 percent of the rights to his back catalog for about $150 million.