ZZ Top sells catalog for around $50M to BMG, KKR

Dec. 21 (UPI) -- ZZ Top have sold their entire music interests including publishing catalog, recorded music royalties and performance royalties to BMG and KKR.

The Wall Street Journal reports that the deal is valued at around $50 million according to those familiar with the matter.

Variety also places the deal at around $50 million citing sources.

BMG previously served as ZZ Top's co-publisher and administrator of their publishing catalog.

ZZ Top have sold over 50 million albums worldwide including one diamond album and two multi-platinum albums. The banks consists of Billy Gibbons, the late Dusty Hill and Frank Beard.

"We are proud to continue working with and expand our long-standing relationship with BMG. This new deal ensures ZZ Top's remarkable legacy will endure for generations to come," the band's manger Carl Stubner of Shelter Music Group said in a statement.