The Harry Fox Agency is officially being sold to the highest bidder. 7.9.15

The dust is finally starting to settle for who's going to buy the Harry Fox Agency, and it looks like the winner is SESAC. Arguably, the hardest performing rights organization (PRO) to get into, it doesn't change that they are clearly more than willing to scoop up the mechanical fees collector and distribution system known as the Harry Fox Agency. What this means is that SESAC will be covering the performance rights royalties along with the mechanical (which is covering the sale of purchases of albums by signed in artists), and will be the first time a PRO will be dealing with more then one type of licensing. 

But, an important thing to note is how they still haven't gone through with the actual exchange of money,yet. This acquisition will cost upwards of twenty million dollars. This is something very interesting considering the hardest PRO to establish a business with as a musician is buying the main mechanical rights agency for musicians. SESAC is looking forward to this new change and challenges. 

 "What excites us about this transaction is the ability it provides to make the licensing process both simpler and more efficient, and in so doing create additional value for music creators and publishers, as well as the digital music platforms.” John Josephson - CEO, SESAC

For more information, head on over to the New York Times article.

Sean Myles Moriarty, Intern @ PARMA Licensing