There's a certain amount of cliché in a story of a one-time Wall Streeter picking up a guitar, growing his hair long and listening to the Beatles. But Josh Gruss has a different twist on the tale: He owns the Beatles, or at least some songs.
Gruss, the scion of a New York hedge-fund family and a one-time Bear Stearns & Co. investment banker, in early 2011 created a music publishing company, Round Hill Music, which has among its holdings the music and lyrics to six early Beatles songs.
Round Hill now has designs on scooping up more assets, including in portfolios that will be sold off following the $2.2 billion expected purchase of EMI Music Publishing by an investor group that includes Sony Corp., Blackstone Group LP, Abu Dhabi's Mubadala Development Co, Raine Group and entertainment mogul David Geffen.
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