TIDMSONG
RNS Number : 6919I
Hipgnosis Songs Fund Limited
28 November 2018
28 November 2018
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited and its Investment
Adviser, The Family (Music) Limited, are pleased to announce that
the Company has acquired a 37.5% interest in the Bernard Edwards
music catalogue. Bernard Edwards is best known for his partnership
with Nile Rodgers, together founding CHIC in 1976 and co-writing
Number 1 songs for bands and artists including CHIC, Sister Sledge
and Diana Ross. Nile Rodgers is a member of The Family (Music)
Limited's Advisory Board and continues to promote and perform
numerous songs within the catalogue.
The catalogue comprises 290 evergreen songs including Dance,
Dance, Dance (Yowsah, Yowsah, Yowsah), Everybody Dance, Le Freak, I
Want Your Love, Good Times, My Forbidden Lover, He's The Greatest
Dancer, We Are Family, Lost in Music, Thinking of You, Frankie,
Upside Down and I'm Coming Out. In addition, many of the songs have
been extensively sampled, remixed or reissued leading to new hits
that are a part of the catalogue including Rapper's Delight and
songs by the Beastie Boys, LL Cool J, Puff Daddy and Justin
Timberlake.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"Bernard and Nile together created one of the most iconic
catalogues of all time from Le Freak, which is the biggest selling
single in the history of Atlantic Records, to Good Times which is
arguably the most interpolated and sampled song of all time. From
Everybody Dance to I'm Coming Out and Upside Down to We Are Family
their songs are classics and, to anyone who knows hits, the brand
of Rodgers and Edwards is as meaningful as Rodgers and Hammerstein,
Leiber and Stoller, Jagger and Richards or Lennon and McCartney.
Importantly their songs have earned as much from the many songs
derived from them, such as the Number 1 songs Rapper's Delight,
Gettin' Jiggy With It and Lady, as they have from the original
works. It's a privilege for Nile and I to now be the custodians to
this important piece of their legacy."
Nile Rodgers said:
"There will never be another Bernard Edwards. I have the time of
my life playing these amazing songs we created together everyday,
but I will never be able to replace him and the special chemistry
we had. Happily, that magic lives on in these wonderful songs that
we get so much joy from everyday."
For further information, please contact:
The Family (Music) Limited Tel: +44 (0)1481 742742
Merck Mercuriadis
N+1 Singer Tel: +44 (0)20 7496
James Maxwell / James Moat (Corporate 3000
Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales)
The Outside Organisation Tel: +44 (0)7711 081
Alan Edwards / Nick Caley 843
NOTES TO EDITORS
About Hipgnosis Songs Fund Limited
(www.hipgnosissongs.com)
Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey
registered investment company established to offer investors a
pure-play exposure to songs and associated musical intellectual
property rights. In its Initial Public Offering on the Specialist
Fund Segment of the London Stock Exchange's main market on 11 July
2018, the Company raised approximately GBP200m gross equity
capital.
About The Family (Music) Limited
The Company's Investment Adviser is The Family (Music) Limited,
which was founded by Merck Mercuriadis, former manager of globally
successful recording artists, such as Elton John, Guns N' Roses,
Morrissey, Iron Maiden and Beyoncé, and hit songwriters such as
Diane Warren, Justin Tranter and The-Dream, and former CEO of The
Sanctuary Group plc. The Investment Adviser has assembled an
Advisory Board of highly successful music industry experts which
include award winning members of the artist, songwriter,
publishing, legal, financial, recorded music and music management
communities, all with in-depth knowledge of music publishing.
Members of The Family (Music) Limited Advisory Board include Nile
Rodgers, The-Dream, Bill Leibowitz, Ian Montone, and Jason
Flom.
About Nile Rodgers and CHIC
Among music legends, Nile Rodgers is truly exceptional. He
amplifies his legacy as a multiple Grammy-winning composer,
producer, arranger and guitarist by constantly traversing new
musical terrain and successfully expanding the boundaries of
popular music. As the co-founder of CHIC and the newly elected
Chairman of the Songwriters Hall of Fame, Nile Rodgers pioneered a
musical language that generated chart-topping hits like "Le Freak,"
(the biggest selling single in the history of Atlantic Records) and
sparked the advent of hip-hop with "Good Times". Nile Rodgers
transcends all styles of music across every generation with a body
of work that's garnered him inductions into the Rock & Roll
Hall of Fame (2017) and the Songwriters Hall of Fame (2016).
Most recently, he was appointed as the first ever Chief Creative
Advisor for the legendary Abbey Road Studios to cap off a year that
has included "festival best" performances at both Glastonbury and
Coachella that resulted in the BBC nominating the band for the BBC
Music Awards as "Best Live Performance of 2017" and the LA Times
stating "Nile Rodgers influence stretches all over Coachella,
beaming the sound of a better future".
His work in the CHIC Organization and his productions for
artists like David Bowie, Diana Ross, and Madonna have sold over
500 million albums and 75 million singles worldwide while his
innovative, trendsetting collaborations with Daft Punk, Avicii,
Sigala, Disclosure, and Sam Smith reflect the vanguard of
contemporary music. Nile Rodgers and CHIC recently released their
first new studio album, "It's About Time" in over 26 years to
critical acclaim and a Top 10 position in the UK album charts.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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