Slipknot have sold a majority stake of their back catalogue to a global investment firm.
The heavy metal outfit have confirmed they have penned a deal with HarbourView Equity Partners for the rights to their tunes, which include Before I Forget and Spit It Out, but neither party has revealed the financial details.
According to The Hollywood Reporter, Slipknot’s M. Shawn “Clown” Crahan said in a statement: “After 25 years of taking on the music business, we find ourselves with a partner that is willing to sign onto continuing what Slipknot started.
“Only they want to go even bigger. Get ready. Hail The Knot.”
Sherrese Clarke, Founder and CEO of HarbourView Equity Partners, admitted the company is “honoured” to help “preserve and amplify” the Wait and Bleed hitmakers’ work for “decades and generations to come”.
She said: “Slipknot’s music has redefined heavy metal and created a global cultural phenomenon.
“Their catalogue is a testament to their influence, passion, and enduring artistry within the genre.
“We pride ourselves on having our finger on the pulse of culture and with thorough analysis of audience engagement, we clearly see the cultural impact of Slipknot from the 1990’s to present.
“The enduring and relevant proof points with Slipknot remain core to our investing thesis, and HarbourView is honoured to help preserve and amplify the group’s work for decades and generations to come.”
In August, it was reported by Billboard Pro that the Corey Taylor-fronted band were in talks with HarbourView Equity Partners over a $120 million deal for the publishing and master recording royalties for their releases since their self-titled 1999 debut album.
However, it was reported that any new music wouldn’t be part of the sale.
Singer Kelly Clarkson recently sold a portion of her music catalogue to the same investment company.