CAK Entertainment may have a good bit of potentially securitizable collateral after purchasing an equity position in King Biscuit Entertainment Group, a firm known for broadcasting live performances from classic rock artists like The Rolling Stones, The Who, Bruce Springsteen and The Beach Boys.
King Biscuit owns the rights to over 21,000 recordings and is widely recognized among fans of classic rock for its syndicated radio show the "King Biscuit Flower Hour."
"The King Biscuit archive, which contains performances by some of the most significant classic rock-n-roll artists of all time, is the richest of its kind," said Larry Katz, managing director at CAK Entertainment.
CAK recently arranged an exclusive licensing agreement allowing Emusic.com to sell King Biscuit album titles over the internet.
Sources close to CAK Universal Credit Corp., CAK's intellectual property securitization arm, said it was a bit early in the relationship to tell if the firm would securitize any King Biscuit archives. - SK