NEW YORK, January 13, 2022 (GLOBE NEWSWIRE) – Reservoir Media, Inc. (RSVR) (“Reservoir” or the “Company”), an award-winning independent music company, today announced the acquisition of the catalog of Edition by the late Grammy-winning DJ, songwriter and producer Fred Rister, including several collaborations with internationally renowned creative partner David Guetta. Together, Fred Rister and David Guetta helped define the Dance, Pop and Electronic genres throughout the 2000s, including contributing to the most downloaded song of all time in the United States, “I Gotta Feeling” by Black Eyed Peas.
Frédéric Riesterer alias Fred Rister (1961-2019) was born in France and began his musical career as a teenager by winning a DJing competition in Dunkirk. He then hosted several radio shows throughout the 1990s before embarking on production and achieving early success with European hits such as “Drop That Beat” and “I’ve Got The Music” in collaboration with his wife, Isabel aka Anaklein, heads the club. cards in France and Belgium.
Building on this success, Fred Rister was approached to collaborate on David Guetta’s 2007 album. Pop life, resulting in the hit single “Love Is Gone”. Upon release, the single was in the UK’s Top 10 and broke through in the US, reaching No. 98 on Billboard’s Hot 100. After “Love is Gone,” David Guetta invited Fred Rister to his production team and together the couple created songs. which made EDM a global phenomenon. Fred Rister has contributed eight tracks on David Guetta’s 2009 Grammy-nominated album one Love, including the Grammy-winning single “When Love Takes Over” with Kelly Rowland, as well as “Memories” with Kid Cudi. Fred Rister also worked alongside David Guetta on two Black Eyed Peas tracks. The end, including co-writing and co-producing their massive worldwide hit “I Gotta Feeling,” which held No. 1 in the U.S. for 16 weeks, won a Grammy, is RIAA Diamond certified and holds the record for most downloaded digital song of all time in the US Fred Rister and David Guetta continued to collaborate through the 2010s, through the release of David Guetta’s 2018 album seven.
Reservoir Founder and CEO Golnar Khosrowshahi commented, “Fred’s talent and creativity has helped define the genres of dance, pop and electronic music. The Reservoir team worked closely with his wife, Isabel, and his representative, Maximilien Jazani, on this agreement, and we are honored to have the opportunity to save their catalog and help ensure the sustainability of its remarkable heritage.
Isabel Rister added: “Sometimes fate is a good supplier and selling to Reservoir is also something Fred would have liked.”
Maximilien Jazani (Catalog Associates), who negotiated the deal from A to Z for the succession of Fred Rister, said: “In 2018 Fred, his wife Isabel and I started working on a possible sale of the rights to edition of Fred. Then Fred’s health deteriorated, and I promised him that I would complete this project for the best possible result. I started working to build a deal that included both a sale of publishing rights and a writer’s buyout while keeping the writer a member of Sacem. I believe I kept my promise. Christophe Piot (Write Here Music), a close friend of Fred and his long-time catalog editor, was also of great help to the success of the operation.
Reservoir was represented for this transaction by Isabelle Wekstein-Steg, partner and founder of WAN Avocats (Paris, Geneva), a leading M&A firm in the cultural industries.
ABOUT THE TANK
Reservoir is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London and Abu Dhabi. Reservoir is the first publicly traded independent music company in the United States and the first woman founded and managed by a woman in the United States. Founded as a family music publisher in 2007, Reservoir has grown to represent over 140,000 tracks dating as far back as 1900 and hundreds of # 1 releases around the world. Reservoir has a steady market share in the top 10 of the United States according to Billboard’s Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide’s A&R Awards and won the Independent Publisher Award of the year at the Music Week Awards 2020.
Reservoir also represents a multitude of music recorded through Chrysalis Records, Tommy Boy Records and Philly Groove Records and manages artists through its businesses with Blue Raincoat Music and Big Life Management.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the financial condition, results of operations, prospects earnings and outlook for Reservoir. . Forward-looking statements are based on the current expectations and beliefs of Reservoir’s management and are inherently subject to a number of risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions which could cause the actual financial condition, results of operations, earnings and / or prospects to differ materially from those expressed or under – understood by these forward-looking statements. Any statement that refers to projections, forecasts or other characterizations of future events or circumstances, including underlying assumptions, are forward-looking statements. In addition, forward-looking statements are generally identified by words such as “plan”, “believe”, “expect”, “anticipate”, “intend”, “outlook”, “estimate”, ” foresee ”,“ project ”,“ continue ”,“ could ”,“ could ”,“ could ”,“ possible ”,“ potential ”,“ foresee ”,“ should ”,“ should ”and other similar words and expressions , but the absence of these words does not mean that a statement is not forward-looking. The risks, uncertainties and / or assumptions include, among others, those discussed and identified in public documents filed with the Securities and Exchange Commission by Reservoir and the following:
- expectations regarding Reservoir’s future financial strategies and performance, including its future business plans or objectives, performance and potential opportunities and competitors, revenues, products, prices, operating expenses, trends market, liquidity, cash flow and use of cash, capital expenditure;
- Reservoir’s ability to invest in growth initiatives and to seek acquisition opportunities;
- the ability to realize the expected benefits of the business combination, which may be affected, among other things, by competition and Reservoir’s ability to grow and manage its growth profitably and to retain its key employees;
- the inability to maintain the listing of the common shares of Reservoir on the Nasdaq Stock Market LLC and the limited liquidity and trading of the securities of Reservoir;
- geopolitical risk and changes in applicable laws or regulations;
- the possibility that Reservoir will be adversely affected by other economic, commercial and / or competitive factors;
- risks related to the organic and inorganic growth of Reservoir’s activity and the calendar of expected commercial milestones;
- the risk that the COVID-19 pandemic, and local, state and federal responses to deal with the COVID-19 pandemic, could have a negative effect on Reservoir’s business operations, as well as on its financial condition and results operating; and
- litigation and regulatory risks, including diversion of management’s time and attention and additional costs and demands on Reservoir resources.
If one or more of these risks or uncertainties materialize or if any of the assumptions made by the management of Reservoir prove to be incorrect, actual results could differ in material respects from those projected in these forward-looking statements.
Except to the extent required by applicable law or regulation, Reservoir assumes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unforeseen events. .
Source: Reservoir Media, Inc.