One Media IP Group PLC (LON:OMIP) said has struck a deal that will give it commercial control over a catalogue of 2,000 rare recordings of greats such as Glenn Miller, Cole Porter and Count Basie.
It has acquired the licensor's royalty share of the collection on what it described as an “in-perpetuity basis” from 21 Vision. Financial terms were not disclosed.
The two companies formerly had a revenue-sharing agreement.
One Media said the deal allows it to “continue to exploit the catalogue via all of its digital mediums and collect all revenues associated with the licence”.
Chief executive Michael Infante added: "We have worked with 21 Vision for 12 years, marketing their music catalogue on a royalty sharing basis.
“By buying out the licensor’s royalty share, One Media secures the rights to the catalogue on an in-perpetuity basis, whilst also increasing its margin by taking a bigger share of the royalty.”
The collection includes performances by 70 artists, who are being “rediscovered by growing global audiences”.