The Red Hot Chili Peppers are reportedly selling the rights to their song catalog for $140 million. The band is selling the publishing rights to its songs to London-based music investment firm Hipgnosis, Variety reported.
The Chili Peppers’ catalogue was largely penned by the band’s key members, lead singer Kiedis, bassist Flea, drummer Chad Smith and guitarist John Frusciante.
The Chili Peppers are the latest big-name act to sell their catalogue. Last year, Bob Dylan sold his 600-song catalogue for more than $300 million to Universal Music, and Stevie Nicks sold hers to Primary Wave for $100 million.
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