April 04, 2005 04:21:52 GMT
Singer Elton John has agree to sell Twenty-First Artists Ltd., the management company he co-owns, to Sanctuary Group
British pop singer Elton John has agree to sell his co-owns management company "Twenty-First Artists Ltd." to Sanctuary Group, a British based management, publishing, tour and merchandising company, which handles many international stars. The deal is mentioned will bring John and his partners around $30.2 million in cash and shares, and let the famous singer be managed by Sanctuary whose roster includes such artists as U.S, rapper Nelly and British heavy metal legend Robert Plant, for the next five years.
To mark the deal, Sanctuary Executive Chairman, Andy Taylor told the Associated Press "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." Additionally, industry analyst Paul Richards said that John is "probably one of the top half-dozen artists globally, so having him on the roster certainly could help Sanctuary attract other talent."