Simple Minds' "key music interests” have been acquired by BMG.

Jim Kerr and Charlie Burchill of the seminal Scottish rock band have inked an agreement with the major label, which covers the publishing rights to more than 240 songs, their neighbouring rights and royalties from their back catalogue.

Frontman Jim, 63, said: “We are very pleased to have struck this deal. It feels like the right time for us and our families. We look forward to working with everyone at BMG.”

Alistair Norbury, BMG President Repertoire and Marketing UK, commented: “There are few bands who can claim to have changed music, but over a period of 45 years Simple Minds have done precisely that.

“It has been a long courtship, but we are delighted to have the opportunity to be custodians of their outstanding catalogue. We are thrilled that BMG is now the musical home of Simple Minds, past, present, and future.”

BMG has secured a number of deals of late, including a 50 per cent stake in Primal Scream’s publishing.

Mötley Crüe are also said to have sold their catalogue to the label for a whopping $150 million.

Last year, Tina Turner sold the rights to her solo back catalogue to BMG in a landmark deal.

Meanwhile, Simple Minds are set to release their 18th studio album ‘Direction of the Heart’ on October 21, the follow-up to 2018's 'Walk Between Worlds'.

The lead single, 'Vision Thing', is a moving tribute to Jim's late father, who passed away in 2019.

The LP also includes a duet with Sparks singer Russell Mael on the track 'Human Traffic'.

The collection was recorded in the "worst of times", but ended up being a lot of "fun" for the Glaswegians.

Jim said: "How to make a feel-good ‘electro-rock’ record, during the very worst of times?

"'Direction Of The Heart' is the result of that challenge. Who would have thought we’d have so much fun creating it?”

The 'Belfast Child' hitmakers have sold more than 60 million albums to date, and have scored five No.1 albums over a career spanning almost five decades.