Warner Bros. Discovery has partnered with rights firm Cutting Edge Group in a joint venture which will co-own the studio’s catalog of film and TV music from its blockbusters.As part of the joint venture, Warner Bros. Discovery will have creative and operational control of the music rights, while Cutting Edge Group will jointly manage the joint venture. The companies did not disclose the financials involved in the deal but called the creation of the joint venture “one of the largest music deals ever transacted.”The catalog includes music from the Harry Potter and Lord of the Rings franchises, DC Comics movies, as well as TV shows such as Friends, Game of Thrones, The Big Bang Theory, Two and Half Men, Succession and The White Lotus. Additional films and TV series in the scenario include Rebel Without a Cause, The Exorcist, A Star is Born, Blade Runner, Shawshank Redemption, The West Wing, ER, Full House, Sex and The City and Gossip Girl.The joint venture will look to maximize the distribution and revenue of the portfolio. DWS Group is co-investing and sponsoring the transaction alongside CEG.Compositions from the Warner Bros., HBO and Turner Networks catalogs will continue to be administered by Universal Music Publishing Group. Those from the Discovery/Scripps Networks catalog will remain under the administration of Sony Music Publishing. Cutting Edge Group was founded in 2006 with a focus on acquiring and managing media music rights.“This partnership with CEG is the perfect way to expand access to our unparalleled music library while honoring our long history of strong creative oversight and protecting the integrity of the works and artists. Together with CEG, we can find new and exciting ways to entertain a new generation of fans,” said Paul Broucek, president, Music at Warner Bros. Discovery.“This truly is an iconic assembly of catalogs created over almost a century by one of Hollywood’s original studios and to have the opportunity to invest in and manage this JV alongside Warner Bros. Discovery is an incredibly exciting prospect for us. This special partnership with Warner Bros. is the culmination of many years work on the part of our team at Cutting Edge and is a strong endorsement of our early conviction and specialist expertise in this area of the market,” said Philip Moross, CEO of Cutting Edge Group.
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