Julian Lennon, the oldest son of John Lennon, has sold a stake in the songs that were cowritten by his late dad for the beatles, to Primary Wave Music Publishing. He is the son of Lennon and his first wife Cynthia.
The underlying reason according to Lennon was to further his music career.
"Partnering with Primary Wave provides me with a great team of supportive music professionals whose experience I can tap into as I continue to produce and record music," Julian said in a statement. "I felt it was the appropriate time to take on a partner for both my interest in my father’s legendary music and for my future 
music endeavors."
Eonline reported that "John Lennon teamed with Paul McCartney on nearly all the band's classic tracks, ranging from 'She Loves You,' 'Please Please Me' and 'I Want to Hold Your Hand' to 'All You Need Is Love,' 'Strawberry Fields Forever' and 'Come Together;' which are included in the deal.
Primary Wave will get the songwriter's share of royalties sold via tha Beatles catalog. Both parties said that the financial interest was "significant."
Primary Wave Chairman and CEO Larry Mestel said, "We are thrilled to be partnering with Julian Lennon and to own a piece of music history. John Lennon’s Beatles songs were simply some of the greatest songs ever written and will continue to inspire future generations of music fans."
The new company has been generating a lot of buzz during its first year of existence, as they're also the company that paid Courtney Love $50 million for a 50 percent stake in the rights to her late husband Kurt Cobain's Nirvana songs.
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