Music rights company Reservoir has made its latest acquisition: of pioneering label Tommy Boy Music. The deal will see Reservoir buy more than 6,000 master recordings of hip-hop and electronic music, with Tommy Boy becoming part of its Chrysalis Records subsidiary – which it acquired in 2019.
The SEC filing for the deal reveals the price: around $100m. The news comes as Reservoir continues its path towards going public via a merger with a ‘Spac’ company called Roth CH Acquisition II Co.
The Tommy Boy deal could also finally see hip-hop trio De La Soul’s back catalogue coming to digital music services, following a history of sample clearance challenges and disputes with the label. “We have already reached out to De La Soul and will work together to bring the catalogue and the music back to the fans,” a spokesperson told Variety.