Cutting Edge Group has been a prominent buyer of film and TV music rights over the past few years.
Today (September 3), the UK-born company has announced its latest transaction: The acquisition of AMC Studios’ “full portfolio of TV music rights,” adding compositions from hit TV series including The Walking Dead franchise and Anne Rice adaptations to its media music portfolio.
Cutting Edge, led by CEO Philip Moross, said it has acquired both the publishing and master rights to AMC Studios’ entire TV music library for an undisclosed amount.
The compositions and recordings from the latest deal join CEG’s total portfolio of over 400,000 owned and/or managed media music rights, which it says is valued at more than USD $1 billion.
Cutting Edge Group completed a USD $500 million debt refinancing in April last year, with a syndicate of four banks led by US-based Fifth Third Bank and Toronto-headquartered private investment firm, Northleaf Capital Partners.
Cutting Edge said at the time that it had already identified a “circa USD $1.5 billion pipeline” of potential investments.
The transaction marks the latest expansion for Cutting Edge following its partnership withWarner Bros. Discovery in January to create a joint venture through which it now co-owns and co-manages the studio’s vast catalog of film and TV music, spanning almost a century.
The company’s latest acquisition covers music from AMC’s original programming over the past decade.
The Walking Dead ran for 11 seasons and 177 episodes. The franchise has expanded into multiple spin-offs including The Walking Dead: Dead City and The Walking Dead: Daryl Dixon.
Other assets in the deal include Anne Rice’s Interview With The Vampire, Anne Rice’s Mayfair Witches, Into the Badlands and Dark Winds.
The deal also sees CEG secure rights to music from future seasons of existing franchises The Walking Dead: Daryl Dixon, premiering in September, Anne Rice’s The Vampire Lestat, expected in 2026, Anne Rice’s Talamasca: The Secret Order, premiering in October, and a new Immortal Universe TV series.
According to Cutting Edge, under the deal, AMC Networks will continue to use the music within AMC Studios’ series “in perpetuity.”
Commenting on the latest deal, Tara Finegan, COO of Cutting Edge Group, said: “AMC Studios’ catalogue represents some of the finest storytelling in modern television and we are honoured to become custodians of the remarkable music behind it.
“Being a record label partner to AMC since 2016 through our soundtrack division, LakeshoreRecords, and having released the soundtrack album of BearMcCreary’s iconic The Walking Dead score, we have first-hand experience with how valuable and long lasting this studio’s catalogue is and we look forward to carrying this extraordinary body of work into its next chapter.”
Credit: Faye Thomas
“AMC Studios’ catalogue represents some of the finest storytelling in modern television and we are honoured to become custodians of the remarkable music behind it.”
Tara Finegan, Cutting Edge Group
Tim Hegarty, Head of M&A at Cutting Edge Group, said: “This investment reflects our unwavering commitment to securing the very best music rights in the media & entertainment industry.
“Our ability to complete deals of this caliber is testament to the reputation we have established within the Film and TV industry over the past decades.”
Credit: Faye Thomas
“Our ability to complete deals of this caliber is testament to the reputation we have established within the Film and TV industry over the past decades.”
“We have a deep conviction in this subsector of the music copyrights market, having completed 25 acquisitions in just four years, and are confident we can grow the audience and revenue potential of the portfolio by utilizing our team’s specialist experience and operating expertise.”
Dawn Botti, EVP of Legal and Business Affairs for AMC Networks, added: “Music plays such an important and foundational role in our premium scripted series and their enduring impact on viewers.
“We are excited to partner with Cutting Edge, true experts in the use and monetization of the type of original and high-quality music that is at the heart of our shows.
“The agreement will allow us to participate in Cutting Edge’s efforts to maximize the value of this IP with no disruption to our core business as we retain the right to use the music within past, present and future productions.”
“We are excited to partner with Cutting Edge, true experts in the use and monetization of the type of original and high-quality music that is at the heart of our shows.”
Dawn Botti, AMC Networks
Other deals struck by Cutting Edge include, in 2022, a partnership with affiliates of London-based Blantyre Capital in a deal that secured $125 million for acquisitions of music publishing rights from composers who write music for film and TV.
In February 2023, Cutting Edge secured another $100 million from banks led by Nashville-based Pinnacle Financial Partners.
Also in February 2023 the company announced a joint venture with Village Roadshow Entertainment Group, parent company of Village Roadshow Pictures and Village Roadshow Television.
In May 2023, Cutting Edge stepped into the world of pop music, striking a deal with prominent songwriter and producer Jamie Hartman, who’s written or co-written numerous hits for artists such as Lewis Capaldi, Celeste, Calvin Harris, Rag’n’Bone Man and the Backstreet Boys, among many others.
Other Cutting Edge deals include the acquisition of a “major film music catalog” from UK-headquartered First Score Music Ltd., which included full master and publishing rights to more than 75 “premium” film scores. Terms of the deal were undisclosed, but a source told MBW that the deal was worth in the high seven figures.Music Business Worldwide
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‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.musicbusinessworldwide.com ’
