NIRVANA Stake To be Acquired By U2's BONO?

March 27, 2006

James Hall of the U.K.'s Telegraph.co.uk is reporting that Elevation Partners - the private equity company whose partners include Bono, the U2 singer - is thought to be the front-runner in a multi-million pound deal to acquire a stake in the back catalogue of NIRVANA, the 1990s grunge pioneers.

The publishing rights to the group's songs are currently owned by Courtney Love, the widow of Kurt Cobain, NIRVANA's singer, who committed suicide in April 1994.

Love is looking to sell a 25 percent stake in the band's back catalogue, which includes songs such as "Smells Like Teen Spirit" and "Come As You Are".

The deal would give any investor a cut of the royalties every time a NIRVANA song is played.

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