The 83-year-old company adds Foster's 500-plus compositions to its already impressive catalog of more than 250,000 titles, which span all genres including country, blues, jazz, pop, Latin and rock.
Peermusic, the company founded in 1928 which has grown into one of the world’s largest independent publishing houses with over 250,000 titles in all genres, announced that it has signed an agreement with songwriter-producer David Foster to acquire the majority of his body of work as a songwriter. The deal encompasses all of Foster’s compositions in Foster Frees Music, Air Bear Music and One Four Three Music.
Foster's body of work includes more than 500 songs including such hits as “I Have Nothing,” “St. Elmo’s Fire,” “Hard To Say I’m Sorry,” and “Glory Of Love.” With the exception of Foster Frees Music, peermusic has been administering Foster’s publishing for more than fifteen years. The new agreement also includes exclusive publishing representation for Foster’s future works.
“David Foster is one of the great American songwriters and a special colleague," said peermusic chairman and CEO Ralph Peer, II in a statement. "We are thrilled to acquire the works of such a noted talent as working with him is truly a gift."
“I can’t think of a better home for me as a songwriter,” added Foster, who was inducted into the Songwriters Hall of Fame in June 2010 and has won a whopping 15 Grammy Awards among his 47 nominations, including one this year for his work on Michael Bublé’s album, Crazy Love. “Ralph and everyone at peermusic are my musical family, and if the songs are my children, then they are now being protected by their Uncle.”
In negotiating the deal, David Foster was advised by Howard Grossman, co-founding partner, WG& S LLP, and Alan Grubman, Arthur Indursky, Stu Prager and Eric Sacks of Grubman, Indursky & Shire. peermusic was advised by Peter Jaegerman, peermusic’s Senior Vice President of Legal and Business Affairs, and Barry Slotnick and Miriam Cohen of Loeb & Loeb.