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Elton sells Management Co. rakes in 30 mill

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Elton John Sells Management Company For $30 Million

Business Wire

The Sanctuary Group plc announced that it has agreed to acquire 100% of the share capital of Twenty-First Artists Limited from Sir Elton John and co-owners, Frank Presland and Keith Bradley, for a consideration of GBP 16 million funded through a mixture of cash and shares.

Twenty-First manages the creative and business affairs of Sir Elton John and throughout its five year history has also worked with Jamiroquai and Mis-Teeq. It has recently launched the career of James Blunt and will continue to develop new artists in the future.

Sir Elton John's career has spanned more than 35 years and he is one of the world's most successful touring artists and one of the top-selling solo artists of all time.

He has sold close to a quarter of a billion records worldwide, with over 100 US Hot 100 Chart Singles, 12 Multi-Platinum, 23 platinum and 33 Gold US Albums and 29 consecutive UK Top 40 Hits, earning 35 Gold and 25 Platinum albums.

Sir Elton has been awarded multiple Grammy Awards including the Grammy Legend Award and he collaborated with lyricist Tim Rice to create the soundtrack to the Walt Disney Pictures blockbuster The Lion King, for which his music won an Academy Award.

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