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Article: Gaylord Entertainment Company Agrees To Sell Leading Acuff-Rose Music Publishing Catalogue To Sony/ATV Music Publishing for $157 Million.
- Article from:
- Business Wire
- Article date:
- July 2, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
Gaylord Entertainment Company (NYSE:GET) today announced its agreement to sell the catalogue and real estate of Acuff-Rose, a leader in the music publishing business, to Sony/ATV Music Publishing for $157 million in cash. Proceeds from this transaction will be used to pay down debt and to invest in building the company's core hospitality brand, Gaylord Hotels. The Acuff-Rose transaction is subject to customary conditions of closing and is expected to close in August.
"The acquisition of the Acuff-Rose catalogue is a milestone event for our company," commented Paul Russell, Chairman, Sony/ATV Music Publishing. "'Bye Bye Love,' 'Oh Pretty ...