LedZepNews confirmed that a deal was signed to buy Helen Grant’s 10% share of Led Zeppelin’s royalties. However, one potential buyer has said they are not purchasing it.
Ian Penman, Helen Grant’s lawyer, confirmed for the first time that a deal has been made for her stake. He told LedZepNews:
“Helen’s shares are currently under binding/signed offer. In due course, we will be making an announcement about the deal.”
LedZepNews reported in September that an £8.5 million offer was made for Grant’s stake in Led Zeppelin’s royalties. At the time, her lawyer didn’t comment. Now, Penman confirmed a deal was signed but didn’t confirm the deal’s value or if it’s the same £8.5 million offer.
Corporate filings showed the deal hasn’t closed, and the shares haven’t changed hands yet. This deal could let an outsider own part of Led Zeppelin’s music and might push the band to release more songs to increase royalties.
Irving Azoff Was Interested In The Stake
The only known investor interested in Grant’s stake was Irving Azoff. However, he has denied any ongoing talks with Grant. Azoff told LedZepNews he has ‘no knowledge’ of any current discussions to buy Grant’s stake, which she has been trying to sell for a year.
This raises the question of who made the deal. It’s possible Jimmy Page is looking to increase his share of Led Zeppelin’s royalties, as he has done before. For decades, Page owned 50% of Superhype Tapes, the company managing Led Zeppelin’s royalties. The band’s manager, Peter Grant, owned the other 50%.
Corporate filings show that between 2002 and 2003, Page bought 30% of Superhype Tapes from Grant’s children, increasing his ownership to 80% and leaving them with 10% each. This happened around the release of Led Zeppelin’s ‘DVD’ and ‘How The West Was Won,’ giving Page a larger share of the royalties from these releases.