The Offspring have sold the rights to most of their back catalogue for approximately $35 million (£24 million) to a music rights company based in New York called Round Hill.
The pop punk heroes, who earned a fantastic reputation with hits such as 'All I Want', 'Pretty Fly (For A White Guy)' and 'The Kids Aren't Alright' have sold the rights to everything they did with major label Columbia Records and the publishing for songs done with Columbia and indie label Epitah. However, Epitaph retain the right to their 1994 album Smash and 1992's Ignition, according to Billboard.
"We felt that having the right caretaker for our catalogue, both the masters and the publishing, is incredibly important to the future of our career," says frontman Dexter Holland of the deal. "Round Hill understands that we are continuing to perform and record and that the visibility of our past is critical to our future."
Meanwhile, Round Hill appear equally pleased with the deal: "We have some masters like the Bush catalog and records from developing artists like London Souls and Nigel Hall, but we wanted more exposure and you won't get a more high-quality catalog than The Offspring," says Round Hill Music chairman/CEO Josh Gruss. "Also, we didn't have some American punk rock in our publishing portfolio, and this acquisitions helps broaden the genre representation."
Since forming in 1984, The Offspring have sold 36 million records worldwide.
Currently they have a show at Badlands in the States on 7 April and have plans to tour Europe in June and July this year. For tickets and more information, visit here.