Music Mogul Klein Dies

4 months ago 06th Jul 06:30

Allen Klein, former manager of the Rolling Stones and The Beatles, has died at the age of 77.

The music entrepreneur, known for his ruthless business deals, passed away in New York after a long battle with Alzheimer's disease.

Klein founded Allen Klein and Co. in the late 1950s, and it went onto become one of the world's top independent record companies.

The business tycoon managed the Stones for five years in the mid-1960s, helping them negotiate a new contract with their record label.

But his relationship with the rockers soured when he bought the rights to the group's 1960s hits, including (I Can't Get No) Satisfaction and Jumpin' Jack Flash, from a former manager.

Klein was hired by the Beatles in 1969, despite objections from Sir Paul McCartney.

The rift between the group eventually led to a court battle before the band broke up - with many Beatles fans blaming Klein for contributing to the group's split.

Klein continued to work with John Lennon and his wife, Yoko Ono, after the Beatles' demise.

He was convicted of tax fraud in 1979, for not reporting income from the sales of several promotional records, and served two months in prison, but the scandal failed to stop his success.

Klein was also at the center of the 1985 battle over the rights to the Beatles' back catalogue. He attempted to secure a $47.5 million deal on behalf of the Fab Four but eventually lost out to late superstar Michael Jackson.

In addition to music management, Klein also co-produced George Harrison's charity project The Concert for Bangladesh and produced a handful of films throughout his 50-year career.

He is survived by his longtime companion Iris Keitel, his wife Betty, three children, four grandchildren and a sister.

His funeral service will be held in New York on Tuesday (07Jul09).