Katy Perry has sold her music rights to Litmus Music, a venture co-founded by Capitol Records president Dan McCarroll and financed by The Carlyle Group, for $225 million.
The deal covers the master royalty income and publishing rights for Perry’s five studio albums released by Capitol Records, including One of the Boys, Teenage Dream, PRISM, Witness, and Smile.
“Katy Perry is a creative visionary who has made a major impact across music, TV, film, and philanthropy. I’m so honored to be partnering with her again and to help Litmus manage her incredible repertoire,” said Litmus co-founder and Chief Creative Officer Dan McCarroll.
“Katy’s songs are an essential part of the global cultural fabric. We are so grateful to be working together again with such a trusted partner whose integrity shines in everything that she does,” added Litmus co-founder and CEO Hank Forsyth.
Meanwhile, Perry will conclude the final 10 performances of her long-running residency at Resorts World Theatre in Las Vegas next month.
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