Financial giant Blackstone will invest $1 billion in a partnership with Hipgnosis
To acquire music rights and manage catalogs, the companies announced Tuesday. Under the deal, Blackstone will also take an undisclosed stake in Hipgnosis Song Management, which is led by longtime music industry executive Merck Mercuriadis, and which went public on the London Stock Exchange in 2018.
“Hipgnosis Song Management has firmly established songs as an asset class,” said Mercuriadis in a news release. “Given the strength of our pipeline, we see the initial commitment as just the start of a long-term partnership between Blackstone and Hipgnosis that will also include co-investment with Song.”
to acquire music rights and manage catalogs, the companies announced Tuesday.
Under the deal, Blackstone will also take an undisclosed stake in Hipgnosis Song Management, which is led by longtime music industry executive Merck Mercuriadis, and which went public on the London Stock Exchange in 2018.
“Hipgnosis Song Management has firmly established songs as an asset class,” said Mercuriadis in a news release. “Given the strength of our pipeline, we see the initial commitment as just the start of a long-term partnership between Blackstone and Hipgnosis that will also include co-investment with Song.”
AFP
