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Phil Collins and Genesis sell publishing rights and masters for $300 million

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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.

In a report by the Wall Street Journal, the assets were sold to Concord Music Group, and also include the masters of songs recorded in Collins' own solo career, including In The Air Tonight and the UK Number 1 singles You Can't Hurry Love and Groovy Kind Of Love.

The material will also include songs that Genesis member Mike Rutherford created in his own solo project, Mike & The Mechanics.

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