ole has entered into a music publishing co-venture deal with Timbaland, the writer, producer and artist, who has worked with such artists as Justin Timberlake, Jay-Z, Madonna, Mariah Carey, Usher, Eminem, Ludacris, Kenye West, No Doubt, the Black Eyed Peas and Alicia Keys.
As part of the deal, Timbaland will co-sign third party sources to his Blue Stone Music Publishing, which will be led by Eric Spence, an executive in his Mosely Music Group record label.
Ole Acquires Sony Pictures Music Publishing Catalog
The deal builds upon an earlier publishing deal signed in 2012.
“The conversation about this co-venture has been going on for a while,” ole CEO Robert Ott told Billboard. “ole’s existing relationship with Timbaland was founded on our belief in his ongoing commitment to great songwriting and ability to contribute to artist careers. Extending that thinking to a music publishing co-venture seemed to be the logical next step. We look forward to working with Timbaland and also Eric Spence who brings rock solid business skills to the venture.”
Ott noted that the publishing company is looking to strengthen its emerging pop/urban platform.
Timbaland said in a statement that, “There are so many gifted writers looking to and ole-Blue Stone will be home to the very best of them.
Last week, ole announced the acquisition of the music publishing catalog of Sony Pictures Entertainment, in a deal priced at about $125 million, according to sources.