First State Media (FSM) has acquired the music publishing assets of Wind-Up Entertainment in preparation for its media fund launch at the end of the year.
The gain includes songs from artists including Evanescence, Creed, Seether, Ben Mood, Avril Lavigne and Kelly Clarkson.
FSM, led by managing director Steve McMellon, currently has a joint venture with Colonial First State Global Asset Management (CFSGAM).
Music copyright assets were attractive for investors as they generated stable global income streams, CFSGAM chief executive Warwick Negus said.
Negus said they held good long-term growth potential thanks to constant promotion and the royalties made from placing the songs in videogames, movies, television commercials and radio advertisements.
