Warner Music Group Corp. said it has signed an agreement with Walt Disney Music Publishing to gain the rights for some songs written for Disney movies for distribution in Europe and South America.
Warner Music said it will handle licensing for more than 10,000 songs in those regions.
The deal includes rights to songs from films such as "Pirates of the Caribbean" and "The Lion King" and also includes the catalog of Walt Disney Records and Disney Channel shows including "High School Musical," which has been the best-selling album in the U.S. this year.
Shares in Burbank-based Disney were down 30 cents to $32.61 in early trading Monday.
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