Chance to own slice of rock band’s songs Share of heavy metal legend’s back catalogue up for sale after company administration
HEAVY metal fans can own a slice of music history after administrators placed a share of a Midland metal band’s back catalogue on sale.
Buyers are being sought for a portion of the rights to 136 songs by heavy metal legends Judas Priest, including tracks like Breaking The Law and Living After Midnight, said to be worth between £250,000 and £300,000 a year.
The move follows the adminis- tration last year of Ken Downing Ltd, the company owned by former Judas Priest guitarist and cofounder Ken ‘KK’ Downing.
The rights represent the share of the band’s back catalogue owned by Ken Downing Ltd but no price tag has been placed on them or any indication given as to the percentage of the total royalties the shares are worth.
The sale has been initiated by Alastair Massey and Steve Stokes from financial services firm FRP Advisory which is handling the administration.
The move forms part of a wider process, after Astbury Hall Estates Ltd, Astbury Estates Ltd, Astbury Development Company Ltd and Ken Downing Ltd were all placed into administration in October.
The companies own and operate Astbury Hall near Bridgnorth, in south Shropshire, which has an 18-hole, 71-par championship golf course and a stately home used for charity and corporate events.
Administrators said last year that difficult trading conditions and “unsustainable pressure” on its capital had led to its collapse, prompting them to put the estate on the market.
Judas Priest, which was formed in the Black Country, is currently in the middle of its world tour.
Mr Massey said: “Ken Downing was a founding member of Judas Priest and was one of the driving influences of the band’s work up to his departure in 2011.
“As part of the administration process, we are selling the rights owned by Ken Downing Ltd to 136 tracks, which provide a unique investment opportunity.”