The family of late DJ Avicii – born Tim Bergling — has sold three quarters of his music catalogue for an estimated nine figures.
Variety reports conditions of the deal were not disclosed. However, it was announced Avicii's family made the deal with Pophouse Entertainment and sold the entity a 75 percent stake in his master publishings and recordings.
Pophouse Entertainment was co-founded by Bjorn Ulvaeus of ABBA in 2014and helped power the Swedish group's "Voyage" shows in the U.K. this year. It also should be noted the late EDM star's family worked with Pophouse for The Avicii Experience, a digital tribute and museum in Stockholm.
As for the remaining quarter of Avicii's master recordings, the rights and ownership will be maintained by his family.
A statement about the partnership says the deal will "safeguard Avicii's indelible legacy through future global endeavours."
Avicii's father, Klas Bergling, explained further, "Pophouse has presented a concrete concept and proposal for the long-term care and development of Tim’s musical heritage. Through this deal, we are also securing the Tim Bergling Foundation’s long-term finances, creating opportunity to act decisively on the Foundation’s commitments to supporting such important issues as mental health and well-being of young people."
The "Wake Me Up" artist died by suicide in April 2018. He was 28 years old.
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