The Beach Boys have become the latest in a list of musical legends to sell their legacy. The group has sold a majority interest in their intellectual property, recordings, the Beach Boys brand, certain musical compositions and band memorabilia to Iconic Artists Group – founded by legendary Eagles manager Irving Azoff.
According to a statement released on Thursday, members of The Beach Boys and their heirs will continue to retain an interest in their assets to “participate in the upside Iconic expects to create by actively marketing and promoting the Beach Boys.”
The estates of Beach Boys members Brian Wilson, Mike Love, Al Jardine and the late Carl Wilson stated, "The Beach Boys and our songs have been one of the great joys of our lives. For more than half a century, we’ve witnessed generations of fans from all corners of the world come together to celebrate our music, dancing and singing along to the songs that we have loved and performed for decades. As we look towards the upcoming 60th anniversary of The Beach Boys, we wanted a partner to help expand opportunities for our brand, while continuing to preserve our tradition as a band whose music transcends the test of time."
Azoff referred to The Beach Boys as “an American treasure. ”He went on to say that he is “honored” and thrilled that the iconic band are staying invested in growing “the incredible cultural brand they created.”
The terms and conditions of the landmark agreement were not made available.
[Source: Classic Hits Today]