Reservoir Acquires Iconic Tommy Boy Music, Groundbreaking Hip-Hop Label, for $100 Million

New York-based music-rights company Reservoir has acquired the groundbreaking New York-based hip-hop and electronic label Tommy Boy Music for around $100 million, according to an SEC filing. The deal comprises more than 6,000 masters, including such iconic hits from the ‘80s and early ‘90s as Coolio’s “Gangsta’s Paradise,” House of Pain’s “Jump Around,” and Afrika Bambaataa & The Soulsonic Force’s “Planet Rock.”