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Phil Collins and Genesis have sold a large chunk of their back catalogue for a whopping $300million (£268m). Concord Music Group has landed the publishing rights and master recordings for most of prog rock legends Genesis’ catalogue, as well as a portion of the group’s recorded music income streams and masters. The sale also includes Collins’ solo hits In the Air Tonight, You’ll Be In My Heart, and Against All Odds.

The latest big bucks music rights deal has been confirmed, with Concord acquiring a stack of copyrights and revenue rights from good old Genesis.According to the Wall Street Journal, the deal is valued at over $300 million, and gets Concord ownership of song rights, and certain recording rights and revenues, from all three members of the band’s classic line-up: Phil Collins, Mike Rutherford and Tony Banks. That includes music from the three musicians’ respective solo careers as well as Genesis itself.Concord was already the administrator of the song catalogues of Collins and Genesis, and the music firm’s President Bob Valentine confirmed that it was via that existing relationship that talks regarding a big old catalogue acquisition began.Confirming the deal had been done, Genesis manager Tony Smith of TSPM said: “This is a catalogue of music that we are all extremely proud of and it means a great deal to many fans.

It's been announced that Phil Collins and his fellow members of the rock band Genesis have sold a portion of the group's songs - including their publishing rights and master recordings - in a deal valued at more than $300 million. 

Phil Collins and his Genesis bandmates have sold a portion of their songs’ assets to Concord Music Group, including the publishing rights and master recordings for much of Genesis’ music.According to the Wall Street Journal, the deal was valued at more than $300million and will also include master recordings of songs from throughout Collins’ solo career, such as ‘In the Air Tonight’, ‘You’ll Be In My Heart’ and ‘Against All Odds’, and his popular covers of Diane & Annita’s ‘A Groovy Kind Of Love’ and ‘You Can’t Hurry Love’ by the Supremes.Genesis recordings within the package will likely include hits such as ‘Invisible Touch’, ‘That’s All’, ‘Land Of Confusion’ and ‘Follow You, Follow Me’. The deal also includes material that Genesis guitarist Mike Rutherford released with his group, Mike & the Mechanics.Speaking to WSJ, Concord president Bob Valentine said they were aiming to bring Collins and Genesis’ back catalogue to a younger generation of listeners.

Concord CFO Bob Valentine announced Wednesday (April 15) that Nashville-based Hazel Malit has been promoted to CFO of the company’s recorded music business.