But what I'm proposing is to gain the rights to create a derivative work based on TWO original works. So, the copyright of the derived work would be assigned JOINTLY to the copyright holder of the original arrangement (the artist himself) and the copyright holder of the original lyrics.
That's not an option in the license he bought. I guess you could imagine all sorts of creative arrangements, but the license under which this work was available required him to forfeit the copyright of the derived work. Adding a second original work to the mix wouldn't solve that problem.
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But what I'm proposing is to gain the rights to create a derivative work based on TWO original works. So, the copyright of the derived work would be assigned JOINTLY to the copyright holder of the original arrangement (the artist himself) and the copyright holder of the original lyrics.
That's not an option in the license he bought. I guess you could imagine all sorts of creative arrangements, but the license under which this work was available required him to forfeit the copyright of the derived work. Adding a second original work to the mix wouldn't solve that problem.