With SONGS Music Publishing sold to Kobalt today, Ron Perry, minority owner and president, is on his way to head up Columbia Records.
Sources say Perry was already the front-runner for the job, with a signed deal to helm the storied label to happen contingent upon SONGS being sold. With that now official, Perry will take the helm of Columbia beginning Jan. 2.
According to sources, the SONGS auction, which was expecting initial bids in the $160 million range, had 14 bids in the first round, and about half of them advanced to the second round. SONGS was founded by Matt Pincus in 2004, and Perry has been working for the company since its inception.