#warner-music-group

#warner-music-group

Red Hot Chili Peppers have sold their recorded music catalog to Warner Music Group for more than $300 million, reports . The deal includes all of the band's recorded output, including their 13 studio albums, which reportedly generate around $26 million annually. Although the band owned their recorded catalog independently for the past year, during which they were allegedly seeking $350 million for the package, Warner is a logical buyer to foot the bill, as the label originally released Blood Sugar Sex Magik and Californication.