Jim Peterik — a songwriter and band member of The Ides of March, ’80s pop-rock band Survivor and southern rock group .38 Special — has sold a majority stake in his full publishing catalog to Primary Wave. According to sources close to the deal, the acquisition is purported to be in the ballpark of $20 million. It includes Peterik’s stake in the perennial rock anthem “Eye of the Tiger,” which became Survivor’s greatest hit after its placement in Rocky III‘s montage training scene.
Along with “Eye of the Tiger,” Peterik’s new partnership with Primary Wave will include other Survivor co-writes like “Burning Heart,” “High On You” and “I Can’t Hold Back.” It also includes .38 Special’s platinum-selling hits “Hold On Loosely” and “Caught Up In You” as well as “Vehicle” by The Ides of March.
Primary Wave will help Peterik with marketing as well as overall publishing services, including digital strategy, branding, licensing and sync opportunities. This is the latest in a string of recent high dollar acquisitions by Primary Wave, including its purchase of the catalogs and/or rights of Toto’s Jeff Porcaro, Teddy Pendergrass, Luther Vandross, Carole King writer Gerry Goffin, Chris Isaak and more.
“I’m thrilled to be with a company who is as passionate about music as I am. Primary Wave’s roster speaks for itself,” says Peterik. He goes on, “It seems that many of my musical heroes feel the same way! I’m looking forward to great days ahead creating new music and finding new homes for the many songs in my catalogue!”
“We met Jim almost four years ago where he invited us back to his home studio after a lovely lunch,” said Jeff Straughn, chief brand officer at Primary Wave Music. “It was love at first sight and we knew then that it would only be a matter of time to have Jim join the Primary Wave family. We are ecstatic to be working with such a legend.”
Peterik began his multi-faceted music career in 1964 as a member of The Ides of March, which was recently inducted into the Illinois Rock and Roll Hall of Fame and which continues today as a touring act. His involvement in The Ides of March has been the through-line in his career as a musician, during which he also served as a member of ’80s pop-rock band Survivor and southern rock group .38 Special. Peterik also found great success as a songwriter, penning cuts for Lynyrd Skynyrd as well as the theme for the animated film Heavy Metal with Sammy Hagar.
At the turn of the century, Peterik was involved in creating “World Stage,” an ongoing project bringing him and his old collaborators together again for recording and touring purposes. The all-star group’s album Winds of Change was released via Frontiers Records in April 2019.
Over the course of his career, Peterik has also written books, including his 2014 autobiography Through the Eye of the Tiger and Songwriting for Dummies.