Musician Kid Creole has sold the rights to hits, which include 'Annie I’m Not Your Daddy', 'Stool Pigeon Live' and 'Don't Take Away My Coconuts', to music publisher One Media iP Group.

The singer has sold the writers’ royalties of '80s band Kid Creole and the Coconuts, saying he wants to “look after his Coconuts way into the future”.

New Yorker August Darnell was born in 1950, and later enjoyed a string of hits as Kid Creole in the early 1980s and earned a Brit Award for best international artist in 1983.

One Media iP Group did not disclose how much it paid for the acquisition of more than 250 Kid Creole songs. Earlier this year the company bought the rights to a string of early hits by Take That from songwriter and producer Ian Levine.

"One Media is a natural home for my music because they are focused on digital, and nowadays there are hundreds of platforms, with millions of different streams going on," Kid Creole said of the deal.

"Kid Creole has to look after his Coconuts way into the future and that's why I've done the deal."

Michael Infante, CEO of One Media iP, added:

"We are delighted to announce our third royalties deal acquisition of the year executed through our innovative Harmony IP programme. The Kid has been a delight to work with and we look forward to many years of close association with him. I want to say, 'Who is the Daddy?' but that would be too corny."

Numerous well-known music names have sold the rights to their hits over the last two years.

Mick Fleetwood recently sold interests in his Fleetwood Mac back catalogue to BMG, while music fund Hipgnosis Songs snapped up the rights to music by Neil Young, Blondie singer Debbie Harry and Mark Ronson.

Universal Music Group announced it had acquired Bob Dylan's entire back catalogue (600 tracks) last December in a deal reported to be worth over $300 million.