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☆ Music Catalog Giant Hipgnosis Agrees to $1.4 Billion Sale to Concord
▼ + stars: | 2024-04-18 | by ( Ben Sisario | ) www.nytimes.com time to read: +1 min

Hipgnosis Songs Fund, the British company that helped kick-start the music industry’s rush for catalog deals — acquiring tens of thousands of songs by Justin Bieber, Neil Young, Shakira and others — but has seen its share price plummet, has reached a tentative deal to sell itself to Concord, a major independent music company, for $1.4 billion. Hipgnosis, which trades on the London Stock Exchange, said on Thursday that its board had given unanimous approval. But the deal still faces what could be a significant hurdle in the form of a contractual option held by an affiliated company to buy the catalog at a set price. Robert Naylor, the chairman of Hipgnosis, said in a statement: “The acquisition represents an attractive opportunity for our shareholders to immediately realize their holding at a premium, mitigating the risks we see ahead to achieving a material improvement in the share price.”Bob Valentine, the chief executive of Concord, which has a portfolio of labels like Stax and Craft, and large holdings in music publishing, added: “We believe we can integrate Hipgnosis’ catalogs into our wider portfolio of 1.2 million songs in a way that will deliver benefits for composers, performers and all our stakeholders.”

Persons: Justin Bieber, Neil Young, Shakira, Robert Naylor, Hipgnosis, Bob Valentine Organizations: London Stock Exchange, Concord, Stax Locations: British, Concord

☆ Scooter Braun's right-hand man wanted to make Camila Sterling a star. After she died in his hotel room, he wanted the world to forget.
▼ + stars: | 2023-11-08 | by ( Anna Silman | Jack Newsham | ) www.businessinsider.com time to read: +33 min

He also created an LLC under his initials in 2021, seemingly for the sole purpose of releasing Sterling's music. But since Sterling's death, Bolno has worked to distance himself from the tragedy and buff his reputation online. On June 29, 2023, three months after Sterling's death, Ozuna and Andino signed to SB Projects, Scooter Braun's management company. Since Sterling's death, Bolno has appeared to try to distance himself from the tragedy. However, in September, a message from Centeno's email address sent on behalf of Sterling's mother asked Insider to stop reporting on Sterling's death.

Persons: Camila Sterling, David Bolno, Scooter Braun's, Drake, Post, Bolno, Sterling, — who's, Daily Mail —, —, Laura Camila Lozano Sterling, Selena Gomez, Enmanuel Hernández Rodriguez, Rodriguez, it's, Scooter Braun, Taylor Swift, Camila Sterling's, Shaun White, schmoozing, sunning, David Geffen's, he's, Will.i.am, Justin Bieber, hadn't, bigwig, He's, Mariah Carey, Braun, Ariana Grande, Demi Lovato, Scooter, who's, Scooter hasn't, Peter Comisar, Comisar, Michael Tran, Bieber, he'd, David Grutman, LIV, Grutman, she'd, I'm, David, Usher, Sterling's, John Parra, I'd, Nordhia Centeno, Laura Castellanos Torres, Edgar Andino, Andino, Sterling wasn't, Gabby, there's, Sterling texted, Escalade, Cartier Juste, Bruce Lehr, tusi, Fabio Cabrera, Ernesto Rodriguez, Evan Siegfried, Mickey Segal, NKSFB, Nubia Esperanza Sterling Artunduaga, Camila, Rocio Cruz Maldonado, Centeno, Marcie Stefan Organizations: Miami Beach, Daily Mail, Miami Beach Police Department, Puerto, Sterling, Trump, Intracoastal Yacht, Space, Miami Dade College, Puerto Rican, Pump, Miami, DTB Records, Spotify, Records, Temple Law School, Ithaca Holdings, luxe Paramount Miami, Studios, Bay Eight Recording Studios, YouTube, Zero, SB Projects, Paramount Miami Worldcenter, Representatives, Police, Unreal Mobile, Red Pocket, European Business, University of Locations: Post Malone, Miami, Sterling, Latin America, Colombia, Bogotá, American, Puerto Rican, Sunny, Moscow, Sunny Isles, Givenchy, Cuba, Los Angeles, Delaware, Puerto Rico, New York City, Medellín, Ithaca, Korean, Brentwood, North Miami, French Montana, Bolno's, Miami Beach, Jerusalem, Nubia

☆ Music royalty fund Hipgnosis to halt dividends till new fiscal year
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

A headset is seen in front of displayed Hipgnosis logo in this illustration taken, June 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 6 (Reuters) - Hipgnosis Songs Fund Ltd (SONG.L), which had been undertaking a review of its financial position, said on Monday it would not declare dividends before its new fiscal year to ensure sufficient cash resources. The music royalty fund said catalogue bonus provision was expected to increase by about $23 million to $68 million as at Sept. 30, adding that operating cash flow would be used to fund the payment of catalogue bonuses. It added that 10 out of the company's 146 catalogues were likely to meet "performance hurdles" now according to the respective acquisition agreements. Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Nivedita Bhattacharjee and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Hipgnosis, Aby Jose Koilparambil, Nivedita Bhattacharjee Organizations: REUTERS, Fund, Thomson Locations: Bengaluru

☆ UK stocks fall as real estate shares drop; economic data on tap
▼ + stars: | 2023-11-06 | by ( Shubham Batra | ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies Real estate shares top losersMelrose surges after unit signs deal with GE AerospaceFTSE 100 down 0.1%, FTSE 250 off 0.4%Nov 6 (Reuters) - UK stocks inched lower on Monday led by a drop in shares of real estate investment trusts, while investors awaited key economic data to assess the strength of the British economy. The commodity-heavy FTSE 100 (.FTSE) edged 0.1% lower, while the mid-cap index FTSE 250 (.FTMC) fell 0.4% after logging its best week in a year on Friday. Shares of real estate investment trusts (.FTNMX351020) shed 1.2% after the index tracking real estate stocks rose sharply last week. Other economic data this week includes housing prices, construction and services activity for October. Reporting by Shubham Batra in Bengaluru; Editing by Varun H K and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Sanjay Raja, Andrew Bailey, Shubham Batra, Varun, Eileen Soreng Organizations: London Stock Exchange Group, City of, REUTERS, Real, Melrose, GE Aerospace FTSE, Aerospace, Melrose Industries, GKN Aerospace, GE Aerospace, Deutsche Bank, Bank of England, Wizz, Ryanair, JD Sports, Citigroup, Thomson Locations: City, City of London, Britain, Irish, Bengaluru

☆ Music Stocks Adjust to a Slower Tempo
▼ + stars: | 2023-10-29 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

London-based song catalog fund Hipgnosis owns rights to tracks by Shakira, among other artists. Photo: Theo Wargo/Getty ImagesThe music industry is humming along nicely. That won’t make the hangover from rock-bottom interest rates any easier for some music stocks. Shareholders at Hipgnosis , a London-listed song catalog fund that owns rights to tracks by Shakira, the Red Hot Chili Peppers and others, voted against giving the fund another five-year mandate at the company’s annual general meeting on Thursday.

Persons: Hipgnosis, Shakira, Theo Wargo Locations: Hipgnosis, London

☆ Hipgnosis shareholders preparing to block to music rights deal - FT
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] A headset is seen in front of displayed Hipgnosis logo in this illustration taken, June 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 6 (Reuters) - Major shareholders in music investor Hipgnosis Songs Fund (SONG.L) are preparing to block the sale of a rights portfolio worth $440 million to a private fund owned by Blackstone, the Financial Times reported on Friday. Hipgnosis had said the deal would help fund a share buyback, pay down debt and bolster its stock price. One of the top 10 investors in the company said that the price being offered by Blackstone was not high enough, according to the FT report. Reporting by Eva Mathews in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Hipgnosis, Shakira, Nelly, Blackstone, Eva Mathews, Saumyadeb Organizations: REUTERS, Blackstone, Financial Times, U.S, Thomson Locations: Bengaluru

☆ Katy Perry sells rights to five albums including 'Teenage Dream' to Litmus Music
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

Katy Perry performs on stage during the Coronation Concert on May 07, 2023 in Windsor, Britain. Chris Jackson/Pool via REUTERS/File photo Acquire Licensing RightsSept 18 (Reuters) - Singer Katy Perry has signed a deal to sell rights to five of her studio albums released between 2008 and 2020 including "Teenage Dream" to Carlyle-backed Litmus Music, the music rights company said on Monday. "One of the Boys," "PRISM," "Witness" and "Smile" are the other four studio albums that are part of the deal. The five studio albums were released under Perry's contract with Capitol Records, whose former president Dan McCarroll is the co-founder of Litmus Music. With Perry, Litmus Music gets access to an artist who shot to fame in July 2008 with the track "I Kissed A Girl" and has earned 13 Grammy nominations and five MTV Video Music Awards.

Persons: Katy Perry, Chris Jackson, Carlyle, Dan McCarroll, Blackstone, Justin Bieber, Bob Dylan, Perry, Jaspreet Singh Organizations: Billboard, Capitol Records, Litmus, Litmus Music, MTV, Thomson Locations: Windsor, Britain, Bengaluru

☆ Music investor Hipgnosis to sell catalogues to bolster shares
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Shakira performs during the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. The sale includes a portfolio of 29 music catalogues and a collection of non-core songs to a partnership between its investment adviser and funds advised by U.S. private equity group Blackstone (BX.N), Hipgnosis said on Thursday. Founder Merck Mercuriadis is the CEO and founder of the investment adviser, Hipgnosis Song Management (HSM), and holds a minority interest in the buyer, Hipgnosis Songs Capital. Hipgnosis Songs Fund will retain ownership of seven of its ten largest catalogues, it added. Last week, Alchemy Copyrights agreed to buy music copyright-focussed investment firm Round Hill Music Royalty Fund (RHM.L) for about $468.8 million.

Persons: Shakira, Brendan Mcdermid, Nelly, Hipgnosis, Peppers, Neil Young, Blondie, Merck Mercuriadis, HSM, Aby Jose Koilparambil, Janane Venkatraman, Elaine Hardcastle Organizations: Prudential Center, REUTERS, U.S, Blackstone, Blackstone Inc, FTSE, Royalty, Thomson Locations: Newark , New Jersey, U.S, Bengaluru

☆ FTSE 100 inches higher on Fed pause bets; ECB decision on watch
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies FTSE 100 up 0.3%, FTSE 250 flatSept 14 (Reuters) - UK's FTSE 100 opened higher on Thursday after U.S. inflation data bolstered bets that the Federal Reserve will keep interest rates steady next week, while Melrose and Unite Group fell in ex-dividend trading. The exporter-heavy FTSE 100 index (.FTSE) edged up 0.3% in early trade, while the domestically focussed FTSE 250 index (.FTMC) was flat. Shares of real estate firm Unite Group (UTG.L), product testing company Intertek Group (ITRK.L) and aerospace supplier Melrose (MRON.L) declined between 0.5% and 1.5% as they traded ex-dividend. Reporting by Siddarth S in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Siddarth, Subhranshu Sahu Organizations: London Stock Exchange, REUTERS, Federal Reserve, Melrose, Unite Group, European Central Bank, Unite, Intertek, Thomson Locations: Canary Wharf, London, Britain, Bengaluru

☆ Beatles Copyright Owner Shares Soar After Buyout Offer
▼ + stars: | 2023-09-08 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

LONDON (Reuters) - Shares in Round Hill Music Royalty Fund, which owns the copyrights to work of major artists such as the Beatles, soared as much as 67% on Friday after a $496 million buyout offer from Alchemy Copyrights. Shares in Round Hill Music were up 64% at $1.125 by 0753 GMT, having hit a record $1.15 earlier on. In a note, Jefferies said it expects Alchemy's offer is "highly likely to be successful" despite coming at a discount to net asset value. Shareholders in Round Hill Music will get $1.15 in cash per share, a discount of approximately 11.5% to RHM's NAV per share of $1.30 as of September 8. Jefferies said Hipgnosis "trades on a similar discount, but is a larger vehicle, with arguably a more iconic music portfolio."

Persons: Jefferies, Shakira, Neil Young, Hipgnosis, Lucy Raitano, Amanda Cooper Organizations: Royalty Fund, Jefferies Locations: Hill

☆ Beatles copyright owner shares soar after buyout offer
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

LONDON, Sept 8 (Reuters) - Shares in Round Hill Music Royalty Fund (RHM.L), which owns the copyrights to work of major artists such as the Beatles, soared as much as 67% on Friday after a $496 million buyout offer from Alchemy Copyrights. Shares in Round Hill Music were up 64% at $1.125 by 0753 GMT, having hit a record $1.15 earlier on. In a note, Jefferies said it expects Alchemy's offer is "highly likely to be successful" despite coming at a discount to net asset value. Shareholders in Round Hill Music will get $1.15 in cash per share, a discount of approximately 11.5% to RHM's NAV per share of $1.30 as of September 8. Jefferies said Hipgnosis "trades on a similar discount, but is a larger vehicle, with arguably a more iconic music portfolio."

Persons: Jefferies, Shakira, Neil Young, Hipgnosis, Lucy Raitano, Amanda Cooper Organizations: Royalty, Jefferies, Thomson Locations: Hill

☆ The Album Art Studio That Made Pink Floyd’s Pig Fly
▼ + stars: | 2023-06-01 | by ( Mark Yarm | ) www.nytimes.com time to read: +2 min

The Dutch filmmaker Anton Corbijn, the director of “Squaring the Circle (The Story of Hipgnosis),” a documentary on the design firm that opens in New York on June 7, had a slightly different take. “It’s just not normal to fly all the way to Hawaii to do that picture,” he said. Among the 415 album covers Hipgnosis made between 1968 and 1983 was Pink Floyd’s “Animals” (1977), for which a 40-foot inflatable pig was photographed floating between the chimneys of London’s Battersea Power Station. Unfortunately, the single cable affixed to the pig snapped, and up the balloon went — into the flight zone for Heathrow Airport. Noel Gallagher, a fan, provides some modern-day context and comic relief.

Persons: Anton Corbijn, ”, “ It’s, Hipgnosis, Pink Floyd, Nick Mason, Roger Waters, Corbijn, Powell, David Gilmour, Mason, Waters, Robert Plant, Jimmy Page, Paul McCartney, Peter Gabriel, Gouldman, Noel Gallagher Organizations: Battersea Power, Heathrow Airport, Pink Locations: New York, Hawaii, London, Battersea

Justin Bieber has become the latest high-profile artist to sell his share of the rights to his music. The deal includes the publishing rights to a back catalogue that spans over 290 titles, including hits "Sorry," and "Despacito." “The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable,” Merck Mercuriadis, founder and CEO of Hipgnosis Song Management said in a statement. Bieber joins a growing body of artists, including Bob Dylan and Bruce Springsteen, in making major deals to sell the rights to their back catalogues. In January 2022, it was revealed Dylan, 81, had sold the rights to his entire back catalogue to Sony.

☆ Justin Bieber Sells Music Rights to Blackstone-Backed Fund Hipgnosis
▼ + stars: | 2023-01-25 | by ( Joseph De Avila | ) www.wsj.com time to read: 1 min

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☆ Justin Bieber sold his music rights in a deal reportedly worth $200 million. See where that ranks among 7 of the biggest deals that top artists have recently signed.
▼ + stars: | 2023-01-25 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Justin Bieber closed a deal with music investment and song management company Hipgnosis Songs Capital. Bieber sold the rights to all 290 songs in his repertoire for a little more than $200 million. It's the biggest deal yet for any artist in his generation, according to Hipgnosis' chief executive. On Wednesday, Justin Bieber signed over the rights to his entire song catalog to music investment and song management firm, Hipgnosis Songs Capital, according to a press release Hipgnosis sent to Insider. He released six studio albums, 290 songs, and sold more than 150 million records worldwide, according to the statement from Hipgnosis.

☆ Why companies are eager to strike massive music catalog deals
▼ + stars: | 2023-01-24 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

In the last few years, generational stars have inked nine-figure deals to hand over the rights to their catalogs. And, younger artists have taken part in the action too, with singers such as John Legend and Iggy Azalea striking deals. Now, services like Spotify and Apple Music have revolutionized the music industry. Unlike legacy companies, these new businesses don’t have a long track record managing music. The labels, he said, often have a disparate set of goals, including creating new hits, which could distract them from the singular mission of managing older music.

☆ Justin Bieber Nears Roughly $200 Million Deal to Sell Music Rights
▼ + stars: | 2022-12-21 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Justin Bieber is close to a deal to sell his music rights to Blackstone Inc.-backed Hipgnosis Songs Capital in a transaction valued at around $200 million, according to people familiar with the matter. The potential deal includes the pop star’s interest in both his publishing and recorded music catalog, the people say, and comes as such transactions are becoming harder to close, music executives say.

☆ Justin Bieber nears $200 mln deal to sell music rights - WSJ
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

[1/2] Singer Justin Bieber poses at the premiere for the documentary television series "Justin Bieber: Seasons" in Los Angeles, California, U.S., January 27, 2020. REUTERS/Mario AnzuoniDec 21 (Reuters) - Pop star Justin Bieber is nearing a deal worth about $200 million to sell his music rights to Blackstone Inc-backed (BX.N) Hipgnosis Songs Capital, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The pop star disclosed in June that he was diagnosed with Ramsay Hunt Syndrome, which left half of his face paralyzed, forcing him to cancel his performances. Fellow pop artist Justin Timberlake sold the rights to his songs, including hits such as "Cry Me A River" and "Rock Your Body", to Hipgnosis Song Management in May. Blackstone and Hipgnosis Song Management Ltd announced a partnership in October to invest about $1 billion to acquire music rights and manage catalogs.

☆ Christmas tracks bring cheer to music catalogue investor Hipgnosis
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] Mariah Carey performs at the Global Citizen Concert in New York City, New York, U.S., September 24, 2022. REUTERS/Caitlin OchsDec 8 (Reuters) - Pop stars Mariah Carey and Michael Bublé's popular Christmas songs are bolstering Hipgnosis Songs Fund (SONG.L) in the run up to the holidays, as the London-listed music catalogues investor continues to capitalise on the boom in music streaming. "In the wider music market, people continue to listen to and pay for music irrespective of today's cost of living challenges," Mercuriadis said on Thursday. Hipgnosis said underlying net revenue grew 5.8% year-on-year to $65.1 million in the six months to September. Reporting by Pushkala Aripaka and Yadarisa Shabong in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Hipgnosis owns the rights to songs written by artists such as Shakira, Lindsey Buckingham and the Red Hot Chili Peppers. Investors are demanding a change of tune at Hipgnosis Songs Fund Ltd., the London-listed investment vehicle that owns the rights to tens of thousands of songs written by artists such as Shakira, Lindsey Buckingham and the Red Hot Chili Peppers. Hipgnosis was founded by Merck Mercuriadis , a former pop-star manager who has called catalog copyrights recession-proof, and better than investing in oil or gold. Hit songs can yield decades of payments for their owners, as they are streamed, played on the radio, performed live or featured in advertisements.

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