Gone Fishing, Back Wednesday

The closing of The Weeknd’s much-rumored and reported catalog partnership deal wasn’t only distinctive for being one of the few known artist acquisitions to reach the $1 billion valuation level, but also because it represents probably one of the more leveraged deals in the annals of artist music asset trading.

According to sources, in simplified terms, the deal can be described as raising $1 billion for The Weeknd’s music assets, of which 75% was raised through debt, with Lyric Capital Partners holding a 25% equity stake in the artist catalog. The deal is said to encompass his master recordings, which sources say he owns in conjunction with his manager Wassim “Sal” Slaiby; and his publishing, which sources suggest he owns 75% of through a co-publishing stake and his writer share. (The remaining 25% of the publishing, which is not part of the Lyric Capital deal, is now owned by Chord Music Partners.)