"Doing this deal was the right timing for a forward and logical evolution of our business together in an ever-changing industry," Chuck D said in a statement. "Reach has always been ahead of the curve on establishing respect for the Hip-Hop genre songwriting and publishing-wise, and they will continue taking care of my works.”
“I’m so grateful to Chuck for our business together as his music publisher throughout these many decades," Michael Closter, the founder and owner of Reach, added. "There’s no one more consequential in the world of Hip-Hop than Chuck D, and he has written iconic and impactful songs that will forever be a part of music history. The team at Reach will continue working hard to protect these works while also introducing them to new generations to come.”
Music catalog acquisitions are quite common these days, but not many occur in Hip-Hop. Producers Marley Marl, No I.D., and the late Larry Smith have recently sold stakes in their catalogs.