Associated Communications Corporation takeover Robert Holmes à Court 1
In 1981, financial losses by ATV's parent company, Associated Communications Corporation (ACC), led it to attempt to sell its music division. According to authors Brian Southall and Rupert Perry, Grade contacted McCartney, offering ATV Music and Northern Songs for $30 million. According to an account McCartney gave in 1995, he met with Grade and explained he was interested solely in the Northern Songs catalogue if Grade were ever willing to "separate off" that portion of ATV Music. Soon afterwards, Grade offered to sell him Northern Songs for £20 million, giving the ex-Beatle "a week or so" to decide. By McCartney's account, he and Ono countered with a £5 million bid that was rejected. According to reports at the time, Grade refused to separate Northern Songs and turned down an offer of £21–25 million from McCartney and Ono for Northern Songs. In 1982, ACC was acquired in a takeover by Australian business magnate Robert Holmes à Court for £60 million.
