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Sanctuary Adds Global Superstar Sir Elton John To Management Roster On Acquisition Of Management Company, Twenty-First Artists
The Sanctuary Group plc announces that it has agreed to acquire 100% of the share capital of Twenty-First Artists Limited ("Twenty-First") from Sir Elton John and co-owners, Frank Presland and Keith Bradley (the "vendors"), for a consideration of GBP 16 million funded through a mixture of cash and shares. Twenty-First manages the creative and business affairs of Sir Elton John and throughout its five year history has also worked with Jamiroquai and Mis-Teeq. It has recently launched the career of James Blunt and will continue to develop new artists in the future. Sir Elton John's career has spanned more than 35 years and he is one of the world's most successful touring artists and one of the top-selling solo artists of all time. He has sold close to a quarter of a billion records worldwide, with over 100 US Hot 100 Chart Singles, 12 Multi-Platinum, 23 platinum and 33 Gold US Albums and 29 consecutive UK Top 40 Hits, earning 35 Gold and 25 Platinum albums. Sir Elton has been awarded multiple Grammy Awards including the Grammy Legend Award and he collaborated with lyricist Tim Rice to create the soundtrack to the Walt Disney Pictures blockbuster The Lion King, for which his music won an Academy Award. Sir Elton John said: "I am very pleased to be involved with Sanctuary as I have been impressed by the approach they take, particularly toward the artist. I feel strongly that this will represent the continuation of a very creative period for me and I am looking forward to working with Andy, Merck and the whole team". Commenting on the news, Sanctuary Executive Chairman Andy Taylor said: "The status of Sir Elton John as a respected and hugely successful artist is unassailable and we are obviously very happy to be involved in his career going forward. I am pleased that Sanctuary's approach to the music industry is attractive to artists of the credibility of Sir Elton John and this can only enhance Sanctuary's proposition." Adding to this, Merck Mercuriadis, Group CEO, said: "Elton John is one of the greatest artists of all time responsible for some of the most important albums ever made and songs composed. He is also one of the greatest icons and most celebrated people of our time. His new Peachtree Road album proves that he remains as vital today as he was 30 years ago when he recorded Captain Fantastic and the Brown Dirt Cowboy and this is further evidenced by the enormous audiences he continues to attract and the box office records he continues to set on tour each year. To work with an artist of his stature is a privilege accorded to few in our industry. Sir Elton's musical genius and passion for creating and performing will ensure that he will remain at the forefront of contemporary music globally for as long as he wishes and we are delighted to be working with him." Frank Presland, Chief Executive Officer of Twenty-First Artists, said: "I have watched and admired the development of Sanctuary over several years and I'm convinced that our future involvement with them will enable us to give an even more effective global service to our artists." As part of the terms, Sir Elton has signed a new 5-year management agreement. In addition, Frank Presland and Keith Bradley have each signed 5-year employment contracts to ensure continuity of key relationships.
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