NEWS
Musicians James Shaffer, Brian Welch, Reginald Arvizu, and Ray Luzier of Korn attend The 59th GRAMMY Awards on February 12, 2017 in Los Angeles, California.
Frazer Harrison/Getty ImagesToday (Nov. 1), the investment platform Tempo Music announced it has acquired majority stakes in the master and publishing rights for Korn's albums See You On The Other Side and Untitled. Along with the two-album deal, Tempo Music has also purchased the right to license the master recordings for the nu-metal group's MTV Unplugged record in perpetuity.
Tempo aims to acquire and exploit what their founder and CEO Josh Empson calls "modern masters" from talent who have amassed strong followings in recent decades. This strategy is what made Korn, known for having a tight-knit fanbase since its formation in 1994, such an appetizing opportunity for Tempo Music as it expands its roster of acquisitions on both the master and publishing sides of the business. "[Korn is] still creatively ambitious and hardworking after almost 30 years together, which is hugely inspiring," adds Empson.
Tempo is an affiliate of Providence Equity Partners, an asset management company with nearly $50 billion in aggregate capital commitments. The music investment platform administers its master recording and publishing acquisitions through Warner Music Group.
The Korn albums involved in the deal are some of the band's later releases. See You On The Other Side is their platinum-selling seventh studio album, while Untitled is its gold-selling eighth album. Some of the most prominent songs featured on the two releases are "Twisted Transistor," "Evolution," "Coming Undone" and "Hold On."
Perry Farrell has released another public apology following an on-stage confrontation involving his bandmate Dave Navarro.
The Jane's Addiction frontman was involved in a physical altercation with guitarist Dave Navarro last year during a live performance, an incident that prompted the band to cancel their reunion tour and eventually led to their split.
“I'd like to address what happened on stage last year,” Perry, 66, said in a statement shared across both his personal Instagram account and Jane's Addiction’s official page. “I've reflected on it and know I didn't handle myself the way I should have. I apologize to our patrons and my bandmates for losing my temper and for disrupting the show.”
He went on to admit that he did not meet fan expectations and described himself as deeply remorseful toward everyone impacted by the incident.
“Jane's Addiction has been at the center of my life for decades. The band, the songs, the patrons, and the impact that we've had on music and culture mean more to me than any words I could ever possibly write down,” he shared.
“My aim has always been to give our audience the best possible show, something real, honest and positive. In Boston, we fell short of that, and I'm truly sorry to everyone who was impacted.”
Jane's Addiction also issued its own statement regarding the altercation, which ultimately led to the group’s remaining members filing a lawsuit against Perry alleging assault, battery, intentional infliction of emotional distress, negligence, breach of fiduciary duty, and breach of contract.
“Today we are here to announce that we have come together one last time to resolve our differences, so that the legacy of Jane's Addiction will remain the work the four of us created together,” the band wrote, signaling that the group would not move forward with Perry. “We now look forward to the future as we embark on our separate musical and creative endeavors.”
