Published on January 7th, 2016 | by Alan Cross0
Is This How Dexter Holland of The Offspring is Paying Off his Jet?
The Offspring, one of the most commercially successful groups of the 90s, has sold off the rights to much of their music to a company in New York called Round Hill. The price? Just under $50 million CAD.
Round Hill will look after all the songs recorded during the Offspring’s time with Columbia/Sony–which, we should note, does not include Smash, which sold 11 million copies for Epitaph, making it the biggest-selling indie album of all time. (Then Adele came along, but let’s not go down that rat hole.) Epitaph also gets to keep the songs from the pre-Smash album, Ignition. The sale to Round Hill gives the band plenty of free cash flow, more than enough to keep them and their heirs very happy for a long, long time.
Dexter Holland had this to say about the deal:
We felt that having the right caretaker for our catalogue, both the masters and the publishing, is incredibly important to the future of our career. Round Hill understands that we are continuing to perform and record and that the visibility of our past is critical to our future.
The deal should also help Dexter solve his airplane problems. In 2014, he was sued by Cessna for missing payments on his jet after falling nearly $1 million CAD in arrears. Things were eventually restructured into 71 monthly payments of about $10,000 with one final payment of somewhere around $500,000. A $50 million payday should help clear that up nicely.