The daughter of Led Zeppelin manager Peter Grant has been “deluged with offers” in the days since she went public with her intention of selling her 10% stake in Led Zeppelin, LedZepNews can exclusively reveal.
Helen Grant announced on July 10 that she intends to sell the 10% share in Led Zeppelin revenues that she inherited from her father. Since then, “we have been deluged with offers”, her solicitor Ian Penman told LedZepNews.
LedZepNews understands that Grant had been attempting to sell her stake privately for months before she broke cover with an interview in The Times published on Monday morning in which the sale plans were announced.
Penman told LedZepNews on Monday, hours after The Times story was published, that he advised Grant to go public in the hope of attracting more bidders for her stake in Led Zeppelin. Publicly advertising a sale of a music catalogue as well-known as Led Zeppelin’s is unusual, with deals of this calibre typically negotiated in private.
“So it was my idea that she went public, rather reluctantly. She wasn’t initially stunned at the idea but I think she saw sense and I think you yourself know that it is starting to bear fruit because people that weren’t aware of the sale are now aware,” Penman said.
A landmark deal for Led Zeppelin’s catalogue
It’s not yet clear who is behind this rush of offers that Penman describes. On Monday, we published a rundown of the likely bidders for Grant’s stake and named Irving Azoff’s Iconic Artists Group as one of the likely names.
Hours later, industry publication Music Business Worldwide named Iconic Artists Group as having shown interest in Grant’s stake, which LedZepNews has also learned. The company did not respond to a request for comment.
So what will the eventual buyer of Grant’s stake purchase? On Friday, we revealed the specific assets that are up for sale and explained that another band’s music is also up for sale.
And on Wednesday we published a definitive guide to Led Zeppelin’s corporate empire, detailing the company’s businesses around the world and the shareholders of them.
How much money is the buyer likely to pay? Exact numbers are unclear, but a $10 million ballpark figure feels right. Billboard published analysis of Grant’s stake in the band earlier this week and settled on high single-digit millions, up to just north of $10 million depending on the assets up for sale.