Reservoir Acquires Prolific Catalog of Grammy-Winning DJ, Songwriter and Producer Fred Rister | Your money
NEW YORK, Jan. 13, 2022 (GLOBE NEWSWIRE) — Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the “Company”), an award-winning independent music company, today announced the acquisition of the catalog editor of Grammy-winning DJ, songwriter and producer, Fred Rister, including several collaborations with his internationally acclaimed 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 the Black Eyed Peas.
Frederic Riesterer aka 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 moving into production and enjoying early success with European hits such as “Drop That Beat” and “I’ve Got The Music” in collaboration with his wife, Isabel alias Anaklein, leads the club. track record in France and Belgium.
On the heels of this success, Fred Rister was approached to collaborate on David Guetta’s 2007 album Pop Life, which resulted in the single “Love Is Gone”. Upon its release, the single charted in the Top 10 in the United Kingdom and broke through in the United States, reaching number 98 on Billboard’s Hot 100. After “Love is Gone”, David Guetta invited Fred Rister to his production team and together the duo created songs. that made EDM a global phenomenon. Fred Rister contributed eight tracks to 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 tracks from The Black Eyed Peas’ The END, including co-writing and co-producing their huge worldwide hit “I Gotta Feeling”, which went to No. 1 in the United States. United for 16 weeks, won a Grammy, is RIAA Diamond certified and holds the record for the most downloaded digital song of all time in the United States Fred Rister and David Guetta continued to collaborate during the 2010s, thanks to the release of David Guetta’s album 7 in 2018.
Reservoir Founder and Managing Director Golnar Khosrowshahi said, “Fred’s talent and creativity have 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 deal, and we are honored to have the opportunity to safeguard his catalog and help ensure the future of his remarkable legacy.
Isabel Rister added: “Sometimes fate is a good supplier and selling to Reservoir is also something Fred would have liked.”
Maximilien Jazani (Catalogue Associates), who brokered the A-Z deal for Fred Rister’s estate, said: “In 2018, Fred, his wife Isabel and I started working on a possible sale of the rights to Fred’s edition. Then, Fred’s health deteriorated, and I promised him that I would carry out this project for the best possible result. I started working to build a deal that included both a sale of the publishing rights and a buyout from the writer while keeping the writer a member of SACEM. I believe I have kept my promise. Christophe Piot (Write Here Music), a close friend of Fred and his longtime catalog editor, was also of great help to us for 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 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 publicly traded music company founded and led by a woman in the United States. titles dating as far back as 1900 and hundreds of #1 releases worldwide. Reservoir holds a regular share of the Top 10 in the US market according to Billboard’s Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide’s A&R Awards, and won Independent Publisher of the Year at the 2020 Music Week Awards.
Reservoir also represents a wealth 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 financial condition, results of operations, earnings outlook and Reservoir outlook. 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 that may cause the financial condition, results of operations, earnings and/or prospects to differ materially from those expressed or implied. implied by these forward-looking statements. Any statement that refers to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, is a forward-looking statement. In addition, forward-looking statements are generally identified by words such as “plan”, “believe”, “expect”, “anticipate”, “intend”, “outlook”, “estimate”, ” plan”, “plan”, “continue”, “could”, “may”, “could”, “possible”, “potential”, “predict”, “should”, “would” and other similar words and expressions , but the absence of such words does not imply that a statement is not forward-looking. The risks, uncertainties and/or assumptions include, among others, those discussed and identified in public filings with the Securities and Exchange Commission by Reservoir and the following:
expectations regarding Reservoir’s future strategies and financial performance, including its future business plans or objectives, prospective performance and opportunities, and competitors, revenues, products, prices, operating expenses, trends market conditions, liquidity, cash flow and use of cash, capital expenditure; Reservoir’s ability to invest in growth initiatives and pursue acquisition opportunities; the ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and Reservoir’s ability to grow and manage growth profitably and retain its key employees; the inability to maintain the listing of Reservoir’s common stock on the Nasdaq Stock Market LLC and the limited liquidity and trading of Reservoir’s securities; geopolitical risk and changes in applicable laws or regulations; the possibility that Reservoir may be affected by other economic, business and/or competitive factors; risks relating to organic growth and inorganic growth of Reservoir’s business and the timing of expected business milestones; the risk that the COVID-19 pandemic and local, state and federal responses to the COVID-19 pandemic could adversely affect Reservoir’s business operations, as well as its financial condition and results of operations ; and litigation and regulatory enforcement risks, including the diversion of management’s time and attention and additional costs and demands on Reservoir’s resources.
Should one or more of these risks or uncertainties materialize, or should any of the assumptions made by Reservoir’s management prove incorrect, actual results may differ materially from those projected in these forward-looking statements.
Except to the extent required by applicable law or regulation, Reservoir undertakes 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.
Media Contact Reservoir Media, Inc. Suzy Arrabito Vice President, Marketing and Communications [email protected] www.reservoir-media.com Alpha IR Group Investor Contact Jackie Marcus or David Freund [email protected]