According to The Guardian newspaper, British songwriter and producer Ian Levine sold the rights in a deal covering producer royalties to tracks from the group’s 1992 debut album Take That & Party – which was certified platinum twice in the U.K. – including their hits A Million Love Songs, Could It Be Magic, and I Found Heaven.
The company has also snapped up the producer’s rights to two unreleased Take That tracks.
One Media iP did not disclose the cost, saying only that it had acquired the rights for a “modest consideration”.
Levine is the latest musician to sell his rights to investors bidding to cash in on the extra revenue to be earned in the new streaming era.
More recently, artists including Shakira and Fleetwood Mac stars Mick Fleetwood and Stevie Nicks have also cashed in on their back catalogues, selling rights to companies including Hipgnosis Songs, Primary Wave, and BMG.