Robbie Robertson has cashed out, selling his music publishing, recorded interests and name, image and likeness rights to Iconoclast, a new firm founded by Olivier Chastan, the former CEO of Irving Azoff’s Iconic Artists Group.
Commenting on the deal, Robertson says, "Olivier’s deep appreciation for art and creativity infused with his vision for the future of entertainment convinced me that Iconoclast was the right partner to entrust with the legacy of The Band and my catalog.” As part of the deal, Robertson has joined Iconoclast’s board.
The sale, which was for a reported $25-million, includes all the songs he wrote for The Band and its predecessor, The Hawks, as well as his solo recordings, including all his soundtrack work.
Among the iconic songs sold are “Up on Cripple Creek,” “The Shape I’m In,” “The Night They Drove Old Dixie Down” and many others.
However, shares of his most iconic song, "The Weight," are smaller because Bob Dylan owned the publishing to that and the other songs on The Band's debut album, Music From Big Pink -- Robertson retained the writer's share. This dates back to a deal made in the late '60s between the group, Dylan and their joint manager, Albert Grossman.
Other artists who have unloaded their catalogs over the last year include Bruce Springsteen, Paul Simon, Neil Young, Lindsey Buckingham, Stevie Nicks and ZZ Top.