RESERVOIR ACQUIRES PROLIFIC CATALOG OF LATE GRAMMY-WINNING DJ, SONGWRITER, AND PRODUCER FRED RISTER
Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the “Company”), an award-winning independent music company, today announced the acquisition of the publishing catalog of the late Grammy-winning DJ, songwriter, and producer Fred Rister, including several collaborations with his internationally acclaimed creative partner David Guetta. Together, Fred Rister and David Guetta helped define the genres of Dance, Pop, and Electronic throughout the 2000s, including contributing to the most downloaded song of all time in the U.S., “I Gotta Feeling” by the Black Eyed Peas.
Frederic Riesterer a.k.a. Fred Rister (1961-2019) was born in France and began his musical career in his teens upon winning a DJing competition in Dunkirk. He went on to host several radio shows throughout the 1990s before diving into production and enjoying early successes with European hits including “Drop That Beat” and “I’ve Got The Music” in collaboration with his wife, Isabel a.k.a. Anaklein, topping the club charts in France and Belgium.
On the heels of this success, Fred Rister was approached to collaborate on David Guetta’s 2007 album Pop Life, resulting in the hit single “Love Is Gone.” Upon release, the single was a Top 10 hit in the U.K. and broke through in the U.S., reaching #98 on Billboard’s Hot 100. Following “Love is Gone,” David Guetta invited Fred Rister to his production team and together the pair created songs that made EDM a global phenomenon. Fred Rister contributed to eight titles on David Guetta’s 2009 Grammy-nominated album One Love, including the Grammy-winning single “When Love Takes Over” featuring Kelly Rowland, as well as “Memories” featuring Kid Cudi. Fred Rister also worked alongside David Guetta on two tracks off the Black Eyed Peas’ The END, including co-writing and co-producing their massive global hit “I Gotta Feeling,” which held #1 in the U.S. for 16 weeks, won a Grammy, is RIAA Diamond-certified, and holds the record for the most downloaded digital song of all time in the U.S. Fred Rister and David Guetta continued to collaborate during the 2010s, through the release of David Guetta’s 2018 album 7.
Reservoir Founder and Chief Executive Officer Golnar Khosrowshahi commented, “Fred’s talent and creativity helped define the genres of Dance, Pop, and Electronic music. The Reservoir team has worked closely with his wife, Isabel, and representative, Maximilien Jazani, on this deal, and we are honored to have the opportunity to safeguard his catalog and help ensure his remarkable legacy endures.”
Isabel Rister added, “Sometimes, fate is a good provider and selling to Reservoir is also something that Fred would have liked.”
Maximilien Jazani (Catalogue Associates) who brokered the deal from A to Z for Fred Rister’s estate, said, “In 2018, Fred, his wife Isabel, and I, started working on a potential sale of Fred’s publishing rights. Then, Fred’s health deteriorated, and I promised him that I would carry out this project for the best possible result. I started working to build a deal that encompassed both a sale of publishing rights and a buy-out of the writer share while keeping the writer a SACEM member. I believe I have kept my promise. Christophe Piot (Write Here Music), Fred’s close friend and his longtime catalogue publisher, has also been a most valuable help to us for the success of the deal.”
Reservoir was represented for this deal by Isabelle Wekstein-Steg, partner and founder of WAN Avocats (Paris, Geneva), a leading firm in M&A of cultural industries.