London | KKR has joined a feeding frenzy for lucrative song rights after agreeing to buy a majority stake in the catalogue of songwriter Ryan Tedder, who has penned hits for Beyoncé, Adele, Paul McCartney and Stevie Wonder.

Mr Tedder, alongside Max Martin and Jason “Poo Bear” Boyd, is one of a number of professional hitmakers behind some of the most successful songs in the streaming age. His catalogue includes nearly 500 songs that have sold more than 420 million copies, or the equivalent of 63 billion streams, according to KKR. No financial details of the deal were disclosed.

Financial Times