Genesis sell music rights for £270m

PHIL COLLINS and his

Genesis bandmates have become the latest rock stars to cash in on their back catalogue – selling it for £270million.

The group, whose other members are guitarist Mike Rutherford and keyboardist Tony Banks, have sold the rights to hit songs including Mama, Turn It On Again and Invisible Touch to the US-based Concord Music Group. The deal includes Collins’s hugely solo work and Rutherford’s Mike + The Mechanics songs.

Bruce Springsteen sold the publishing rights to his recorded music and songwriting for £450million, and Sting banked £260 million for his hits. Genesis stopped performing live this year.