Spirit Music’s first catalog, which contains Pete Townshend’s publishing, T. Rex’s publishing catalog and masters, and Ingrid Michaelson’s music assets, might be coming up for sale, sources tell Billboard.

The catalog is currently owned by North Leaf Capital, which acquired it at some point since October 2021, when it provided $500 million in funding to Lyric Capital Group in a deal that was termed a “strategic alliance at the time. Lyric Capital was formed by Jon Singer and Ross Cameron, when they were still executives at Spirit Music, to buy Spirit Music and its catalog from original owner Pegasus Capital in 2018. Spirit Music is now the operational music company of Lyric Capital, and continues to serve as administrator for that catalog.

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