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EMI acquires majority stake of Hit & Run

Deal brokered for $19 mil

U.K. music group EMI said Tuesday it has agreed to buy 51% of Hit & Run Music Publishing for £11.5 million ($19 million).

The Hit & Run catalog includes copyrights by Genesis and Phil Collins as well as Kula Shaker, Right Said Fred, Julian Lennon and others.

The acquisition, which also entails the assumption of debt, will let EMI in on publishing rights to songs like Phil Collins’ solo hits “Another Day in Paradise,” “One More Night” and “In the Air Tonight,” as well as Genesis copyrights like “I Can’t Dance” and “Invisible Touch.”

Management unaffected

Hit & Run, founded in 1977, is owned by Tony Smith and Jon Crawley. Smith will remain chairman of the company and Crawley will continue to oversee its daily operations.

“The relationship with Hit & Run brings more of the world’s great songs to EMI. As the world’s largest music publisher we are well positioned for growth in the new millennium,” said EMI chairman Eric Nicoli.

The Hit & Run management company, whose clients include Phil Collins, Genesis and Mike & the Mechanics, will not be affected by the deal, nor will Hit & Run Prods.

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