Universal Music Group has announced the acquisition of Neil Diamond's song catalogue, as well as the rights to all recordings from his career. Diamond, 81, has sold more than 100 million records worldwide since launching his career in 1962, making him one of the best-selling musicians of all time.
He wrote the widely recognised hits Sweet Caroline, I'm A Believer and Red, Red Wine, which spawned covers by artists including The Monkees and UB40. UMG said it has bought Diamond's complete catalogue through its publishing division Universal Music Publishing Group (UMPG).
The acquisition includes 110 unreleased tracks, an unreleased album and archive long-form videos.
Diamond said: "After nearly a decade in business with UMG, I am thankful for the trust and respect that we have built together and I feel confident in the knowledge that Lucian, Jody, Bruce, Michelle and the global team at UMG will continue to represent my catalogue and future releases with the same passion and integrity that have always fuelled my career."
The acquisition builds on an existing deal between Diamond and UMPG, which has served as the singer's publishing administrator since 2014. UMG will also record and release Diamond's future music if he returns to the studio.
Sir Lucian Grainge, chairman and chief executive of UMG, said: "Neil Diamond is, by definition, a truly universal songwriter. His immense songbook and recordings encompass some of the most cherished and enduring songs in music history. Through our existing partnership, we are honoured to have earned his trust to become the permanent custodians of his monumental musical legacy."
During his 60-year career, Diamond has had 10 number one singles on Billboard's Hot 100 and Adult Contemporary charts. He has also received a Grammy and a Golden Globe and his music has been featured in several films and TV shows. He has been inducted into the Songwriters Hall of Fame and the Rock & Roll Hall of Fame.
Diamond joins a string of artists who have recently sold the rights to their back catalogues. Earlier this month, Sting sold his songwriting catalogue to Universal, and rock band Aerosmith agreed a deal to bring their back catalogue to UMG.
In January, Warner Chappell Music acquired the publishing rights to David Bowie's back catalogue in a deal reported to be worth hundreds of millions of pounds. The agreement covers songs from 26 studio albums released during Bowie's lifetime, as well as the posthumously released album Toy and his two albums with the band Tin Machine.
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