Wesbild Sells Meridian Crossing

Wesbild Holding Ltd. is pleased to announce the sale of Meridian Crossing on Burke Mountain in Coquitlam, BC.

Located at the gateway to Burke Mountain, Meridian Crossing is the first new neighbourhood shopping centre for this growing, family friendly community. Designed and developed by Wesbild, Meridian Crossing features contemporary Westcoast architecture and includes a 7-Eleven, Subway and cefa which are now open. Hiraku Sushi and Coast Meridian Dental Clinic are scheduled to open shortly.

“We have truly enjoyed planning and building Meridian Crossing.” said David Laronde, Senior Vice-President of Wesbild, “Wesbild realized our goal of providing this much needed shopping amenity for Burke Mountain, and we hope it continues to be a community gathering place for years to come.”

Wesbild is now constructing Meridian Corner located on Burke Mountain in Coquitlam at the Northeast Corner of Coast Meridian and David Avenue. Meridian Corner will include Shoppers Drug Mart and TD Canada Trust.

Reservoir’s Rell Lafargue on Billboard’s “Maximum Exposure” Panel

Billboard ran its annual Maximum Exposure issue, a countdown in which industry insiders evaluate the value of various sales, marketing, performance, and publicity plugs, from a Super Bowl halftime performance to placement on a Wal-Mart endcap. Like Reservoir President Golnar Khosrowshahi before him, company Chief Operating Officer Rell Lafargue weighed in on dozens of promotional opportunities for new and established artists.

This year’s Top Ten Maximum Exposure plugs (compare to 2012, below):

1. A Super Bowl halftime show performance

2. A Grammy Awards performance

3. A performance on Saturday Night Live

4. Placement in TV commercial that runs during a special event

5. Homepage placement on iTunes

6. A performance on NBC’s The Voice

7. An artist’s arena-level headlining tour

8. A performance on MTV Video Music Awards

9. A performance on Coachella’s mainstage

10. Placement in a high-rotation TV ad for a leading car company


2012 Top Ten:

1.  A Superbowl halftime-show performance

2.  A Grammy Awards performance

3.  Homepage placement on iTunes

4.  Placement in TV commercial that runs during a special event

5.  A performance on Saturday Night Live

6.  An artist’s first arena-level headlining tour

7.  Placement in a high-rotation TV ad for a leading car company

8.  A performance during the Country Music Association Awards

9.  Placement in a high-rotation TV ad for a leading shoe brand

10.  A performance on Coachella’s mainstage

Other panelists of this year’s issue included NCredible Entertainment CEO Nick Cannon, Warner Music Nashville President & CEO John Esposito, Orchard CEO Brad Navin, and UMGD VP of Direct Marketing Angela Sanchez.

Billboard Features Reservoir in its Publishers Quarterly Issue

Leading music industry trade rag Billboard spotlighted Reservoir in a profile for its current Publishers Quarterly issue.

In the piece, which is online and running in print now, Reservoir President Golnar Khosrowshahi and Chief Operating Officer Rell Lafargue speak about Reservoir as an entity, from its Canadian roots to its Europe-facing plans for the future.

“Our goal is to become the no. 1 indie publisher”, Khosrowshahi is quoted as saying at one point.  Lafargue spoke to the company’s day-to-day priorities, including releasing new music from Philly Groove Records and working with international sub-publishers.

Read the entire piece below and on billboard.biz.


Reservoir Runs Deep: Reservoir Media Management Building 50,000-Song Catalog

By Ed Christman | November 08, 2013 10:01 AM EST

With many midsize publishers gobbled up by BMG Rights Management in the last few years, a void has been left in the marketplace. Reservoir Media Management is part of a new group of up-and-coming publishing firms moving to fill it.

The firm launched in 2007 as part of a diversification move by DRI Capital, an investment firm that specializes in the income streams of pharmaceutical drug patents. DRI was acquired by the Khosrowshahi family in 2002 after it sold its Future Shop electronics chain to Best Buy.

Since entering the music space, Reservoir has put to work about $75 million in music publishing acquisitions, president Golnar Khosrowshahi says, accumulating a portfolio of about 50,000 songs, including the catalogs of 2 Chainz, Bruce Roberts, Big & Rich, Ja Rule, Lil Jon, Jamie Hartman, Danja, Scott Storch, John Fortis, Ina Wroldsen and Stephen “Static Major” Garrett.

Why music? Since Toronto-based DRI was doing well with its investments in drug patents, its appetite for intellectual property grew. After looking into TV, film and books it settled on music publishing, which produced a steady income stream.

Some “thought we were heading the wrong way, considering the declining music sales,” Khosrowshahi says. But the more Khosrowshahi’s team analyzed it, the more it seemed like the right investment, and the publishing royalties business was of a known quality to the Wall Street investment community thanks to other firms like ole, Imagem, Bug Music and Evergreen Copyrights. DRI, with $3 billion in assets under management, took the plunge.

As it was acquiring the songs of Roberts, Vicky McGehee and both halves of the Big & Rich songwriting team (John Rich and Kenny Alphin), the company set up its systems and infrastructure, using customized Counterpoint royalty stems and leveraging the DRI accounting systems. The next year, Reservoir acquired TVT’s publishing catalog, which brought aboard Rell Lafargue, now its COO.

“Our short-term mandate is to grow quite rapidly over the course of the next couple of years,” Khosrowshahi says. “We have an infrastructure that can sustain the addition of tens of thousands of copyrights, and we want to exploit that infrastructure. Benefits happen when you grow to a certain scale.”

Among its acquisitions is the Danja catalog, which contains some 500 songs including about 12 No. 1s, according to Lafargue. The deal also includes a publishing stake in future Danja songs.

Initially, Reservoir was “shy about future deals,” Khosrowshahi says. “We wanted less risk” — but as the company has grown, it’s become equipped to analyze talent and make informed decisions on future deals.

The company also now has the ability to serve developing and up-and-coming songwriters like Phil Bentley, Lotte Mullan and Mø.

In September 2012, Reservoir made its biggest acquisition to date, buying Reverb Music, the U.K.-based music publishing company that possesses a 40,000-song catalog and about 100 songwriter contracts. The deal gave Reservoir a U.K. base, and kept six Reverb employees in London. “The strategy is not for Reservoir to focus on the U.S. and the Reverb people to focus on the U.K. It’s for all of us to look at the U.S. and Europe as one giant territory,” Lafargue says. “Our cross-border arrangements have really been coming together.”

The Reverb deal made it possible for the next Reservoir acquisition: the London-based P&P Songs, which gave Reservoir another 3,000-4,000 titles after its February acquisition. Thanks to its London office, Reservoir knows what’s available for purchase and can target such catalogs and fold them into the company’s existing operations, Lafargue says.

As for the international marketplace, instead of signing with a major, Reservoir chose to set up subpublishers in each market. “We went to each major territory and found the best partner that we could,” Lafargue says. Its lineup of subpublishers: Basement Music (Brazil), Roba (Germany, Austria, Switzerland and the former Eastern Bloc countries), Cafe Concerto (Italy), Clippers Music (Spain, Portugal), Talpa Music (Belgium, the Netherlands and Luxembourg), Mushroom (Australia, New Zealand), Sony/ATV (France, Japan), Stereoscope Music (Scandinavia) and Active Music (South Africa).

The company recently stepped beyond music publishing to buy the master recordings of the Philly Groove label, which includes the Delfonics’ catalog. “So now we are in the masters business,” Lafargue says. “We are relaunching the label, including rereleasing the catalog.” That includes remixed and reimagined tracks courtesy of current producers. Reservoir is also opening up the Philly Groove catalog for sampling, he adds.

“The investment strategy has always been to build and diversify, Khosrowshahi says. “We know where the holes are and where to beef it up… Our goal is to become the No. 1 indie publisher out there as far as revenue and service go, and we want to be the best.”