Helen Grant, the daughter of late Led Zeppelin manager Peter Grant, is selling her 10% stake in the band. She currently owns half of father's 20% stake in Led Zeppelin’s rights, with her brother Warren Grant owning the other 10%.
The sale is being managed by Ian Penman, a musician-turned solicitor (he played keyboards for John Parr and Dan Hartman) with the UK firm New Media Law LLP, and is the first time a stake in Led Zeppelin's business has been made available for sale outside of the band's original members and John Bonham's estate.
The share includes sound recording and publishing rights – including sales, streams, airplay, public performances and synch fees – as well as an interest in the band's other business ventures, including merchandise.
“I’ve always been led by my gut, which I get from Dad,” Grant tells The Guardian. “It felt like the time was right for me to part ways. I’ve got five children, four stepchildren and seven grandchildren. It’s time to move on."
"This is a really special client for me, not only because Helen is such a lovely lady, but because I grew up on the music of Led Zeppelin, which is one of my all-time favourite bands," says Penman. "I was out front when Zeppelin played Knebworth in 1979 (with Bonham on drums, his last gig in England), and Helen and I bonded reminiscing about how truly great that concert was (she was, of course, backstage with her dad)."
Penman also spoke to Led Zeppelin News, revealing why the decision was made to make the sale a matter of public record
"There have been a lot of companies interested, a lot of private individuals interested and they are all still interested and we are still in negotiations,” he says. “I felt that we hadn’t necessarily reached all the parts that we need to reach so I suggested to Helen that going public might make sure that if there is a potential custodian of her rights in the future that may not be aware that she’s selling, on a worldwide basis, that we should try to find them."