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(Sharecast News) - Digital music intellectual property investor One Media iP Group has acquired the producer royalties to three of Heatwave's albums, produced by Barry Blue, being 1976's Too Hot To Handle, 1978's Central Heating, and 1982's Current.
The AIM-traded firm described Blue as "one of the UK's most respected musicians", being a songwriter, producer, and artist.
It said the producer royalties sold include the 1970s disco hits The Groove Line, Always and Forever, Mind-Blowing Decisions, and the million-selling hit Boogie Nights, which it said had been credited as "one of the defining songs" of the disco era.
"I am extremely proud of my work with Heatwave and look forward to working with One Media iP to ensure that the legacy and integrity of the catalogue is preserved and future-proofed in the best way possible, using One Media's TCAT technology, which is extremely impressive," said Barry Blue.
"It's hard to believe I am now looking back at a 50-plus year career, and with this new partnership I hope to ensure that my music will be heard for generations to come."
Blue said it was "important" to do as much as possible to protect and promote the legacy of his music.
"It is a lifetime's work and one that I am immensely proud of.
"Partnering with One Media will allow access to their advanced royalty tracking software."
The acquisition was completed under One Media's 'Harmony iP' equity release scheme, under which the company will use its 'Technical Copyright Analysis Tool' (TCAT) to monitor the songs across 600 digital music stores globally, around the clock.
One Media recently closed similar deals with Take That producer Ian Levine and Culture Club record producer Steve Levine.
In May, the company also acquired more than 250 songs from 1980's pop group Kid Creole and the Coconuts.
The acquisition was funded through the company's existing cash resources, and was in line with management expectations and the firm's business plan.
"Barry Blue has created a body of work over the last 50 years as a song-writer, producer and artist that few can rival," said One Media iP chief executive officer Michael Infante.
"Our deal with his Heatwave catalogue will ensure his legacy is protected and preserved for many years to come."
At 0805 BST, shares in One Media iP Group were up 1.65% at 8.77p.
22 Sep 2015 10:17