Hipgnosis Songs Fund Limited Acquisition of Music Catalogue (6618K)
December 17 2018 - 4:45AM
UK Regulatory
TIDMSONG
RNS Number : 6618K
Hipgnosis Songs Fund Limited
17 December 2018
17 December 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 music catalogue from Christopher
"Tricky" Stewart, an American record producer, songwriter, music
publisher and multiple Grammy winner. The Company has acquired a
100% interest in the catalogue including ASCAP (American Society of
Composers, Authors and Publishers) income.
The catalogue comprises 121 songs in total, including 8 US Top
10 Pop singles, 3 US Number 1 Pop singles and multiple Grammy
winners. It is highly complementary to The-Dream catalogue, which
was acquired by the Company on 11 July 2018, as Tricky co-wrote
many of the most important songs in that catalogue including
Umbrella (Rihanna), Single Ladies (Put A Ring On It) (Beyoncé),
Baby (Justin Bieber), Me Against The Music (Britney Spears &
Madonna) and Touch My Body (Mariah Carey).
In addition to songs co-written with The-Dream the catalogue
includes numerous other songs with Katy Perry from one of her most
successful albums, Teenage Dream, and other songs with Christina
Aguilera, Rick Ross, Whitney Houston, Jennifer Lopez, Nicole
Scherzinger and Ciara.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"This is a tremendously important acquisition for Hipgnosis and
me. In addition to giving us greater ownership of multiple Grammy
Award winning Number 1 songs like Rihanna's Umbrella and Beyoncé's
Single Ladies (Put A Ring On It) we are also reuniting the
catalogues of Tricky Stewart and The-Dream who are arguably the
finest song-writing duo of their time. These songs are big pop
successes but it's sophisticated music of the highest order and
these songs are already classics not to mention by the culturally
most important artists of their time. Tricky is a tremendous
individual, writer, producer and musician whose work backs up all
of the tremendous accolades and success. This is family!"
Tricky Stewart, said:
"There is a right way and wrong way to do everything. The sale
of my catalog to Hipgnosis is right for me. Selling to a friend who
is fuelled by purpose, motivated to do great things, with a
disruptive spirit and vigour caught my attention, and ultimately
led to me completing this transaction. I'm truly blessed to have
these kinds of options in my life and for that WE GIVE GOD THE
GLORY. Over the next 5 years I will be creating another catalog
filled with Hits and culture, and I'll do it all over again! I love
music and music loves me."
Mark E. Stewart - Tricky Stewart's Manager - commented:
"When Trick and I discussed selling his catalog, Merck was the
first person I heard from. Merck and Hipgnosis are definitely
buyers that have respect for the songs and for the writers who
created them, and even the stories behind the creations. Merck is a
music man first,but happens to make deals with the utmost respect
for the creator.
Closing a major transaction like this with a man like Merck made
perfect sense because of our long lasting working relationship. I
congratulate him and Hipgnosis on another great acquisition."
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.
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contact rns@lseg.com or visit www.rns.com.
END
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