Posted: Feb 15, 2013 7:58 pm
I'd say contact whatever label or band that put out the original. They are sure to know who to pay. However, beware. I have a friend who is in a band that does reinterpretations of TV theme songs (http://staytunedtheband.com/), and he has told me tales of some of the right holders asking for way more than the standard 9.1 cents. They had a great version of the "Family Ties" theme mixed with "Thunderstruck", that they had to scrap after AC/DC asked for a mint. I believe they also had to wait until Sherwood Schwartz died, before they could finally get an affordable deal that would allow them to release their version of "Gilligan's Island" mixed with Iron Maiden's "Rime of the Ancient Mariner".
If you're doing a straight cover, its 9.1 cents. Your friend seems to be mashing up two songs and that changes things a bit. The 9.1 cents is set by Congress.