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NEW YORK - Reservoir Media, Inc. (NASDAQ:RSVR), a music company with a market capitalization of $518 million and annual revenue of $162 million, has acquired Miles Davis’ publishing catalog and recorded music rights, along with a partnership for name and likeness opportunities, according to a press release issued Tuesday.
The acquisition comes ahead of the Miles Davis Centennial in 2026, which will feature various commemorative events including a feature film titled "Miles & Juliette," an international symphonic show, and a Miles Electric Band tour.
The jazz legend’s estate, managed by his daughter Cheryl Davis, son Erin Davis, and nephew Vincent Wilburn Jr., will collaborate with Reservoir on these celebrations.
"We are so pleased to begin this new chapter of Miles’ legacy—we are looking forward to working with Golnar, David, and the entire team at Reservoir," said Erin Davis in the statement.
Davis, who died in 1991, released over 60 studio albums during his five-decade career, earning eight Grammy Awards and a Grammy Lifetime Achievement Award. His album "Kind of Blue" (1959) is certified 5x-Platinum and is considered the best-selling jazz album of all time.
Reservoir Founder and CEO Golnar Khosrowshahi said, "Miles Davis is one of the most influential musicians of all time, and it is an incredible honor that his catalog has found a home at Reservoir."
The independent music company, which holds a frequent Top 10 U.S. market share according to Billboard’s Publishers Quarterly, will work to showcase Davis’ music to new audiences on modern platforms like streaming services and social media.
Financial terms of the acquisition were not disclosed in the announcement. InvestingPro analysis shows the company is currently trading near its Fair Value, with analysts projecting net income growth this year. For deeper insights into Reservoir Media’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Reservoir Media announced its first-quarter earnings for fiscal year 2026, showing a slight revenue beat. The company reported revenue of $37.2 million, exceeding the expected $36.88 million. Despite surpassing revenue forecasts, Reservoir Media experienced a net loss of $600,000 for the quarter. The announcement of these financial results was a key development for the company. Analysts and investors often closely monitor such earnings reports to gauge the company’s financial health and future prospects. While the revenue figures were slightly better than anticipated, the net loss remains a critical point of concern. These developments are part of the ongoing financial narrative for Reservoir Media.
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