The company purchased the catalog through a $1.2 billion joint venture with Bain Capital. (L-R) Flea, John Frusciante, Anthony Kiedis, and Chad Smith of Red Hot Chili Peppers are seen backstage at the 2022 MTV VMAs at Prudential Center on August 28, 2022 in Newark, New Jersey. Kevin Mazur/Getty Images for MTV/Paramount Global Trending on Billboard The Red Hot Chili Peppers has sold its recorded music catalog to Warner Music Group (WMG) for more than $300 million, a source confirms with Billboard . The company purchased the catalog via its $1.2 billion joint venture with Bain Capital, which is aimed at acquiring both recorded music and publishing rights. Billboard  was first to report that the Chili Peppers was shopping its recorded catalog in February 2025, with sources saying the band was seeking up to $350 million.…