GUNS N' ROSES Catalog To Generate $100 Million For SANCTUARY

January 28, 2005

According an article in the U.K.'s The Times, Sanctuary Music Group said that it expected to generate about £50 million (approx. $94 million) from exploiting GUNS N' ROSES hits through film soundtracks, cover versions and their use in advertisements. Sanctuary announced earlier in the week that it had acquired the publishing rights to GUNS N' ROSES' back catalogue in a deal believed to be worth £10 million (approx. $19 million).

Deke Arlon, Sanctuary's head of publishing, said: "After THE BEATLES and QUEEN, there doesn't come much bigger in the rock canon than GUNS N' ROSES. We spent years trying to find the right deal and we are delighted with acquiring a slice of rock history."

The notoriously unpredictable Axl Rose signed with Sanctuary after months of negotiations through his lawyers. Although rival publishers are believed to have offered more, Rose felt more comfortable with Sanctuary's business plan.

Sanctuary has also secured the rights to "Chinese Democracy", the new GUNS N' ROSES album and all future Rose material. However, the album has no release date 12 years after work began. The effort has cost other labels £6 million (approx. $11 million) and seen off eight producers.

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