Hipgnosis Songs Fund Limited Acquisition of Music Catalogue (5193A)
May 30 2019 - 2:00AM
UK Regulatory
TIDMSONG
RNS Number : 5193A
Hipgnosis Songs Fund Limited
30 May 2019
30 May 2019
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 the music catalogue of Al Jackson Jr., an
American drummer, producer, and songwriter.
Al Jackson Jr. is one of the most influential and revered
songwriters, producers and musicians of the classic soul era of the
1960s and 1970s. As a founding member of Booker T & The M.G's,
Al Jackson Jr. shaped the sound of Stax Records and their iconic
artists who were a who's who of Southern soul, Memphis soul and Pop
Radio.
Al Jackson Jr. co-wrote and played on some of Al Green's most
successful songs, including the US Top 5 Pop hits: 'I'm Still In
Love With You', 'You Ought To Be With Me', 'Look What You Done For
Me', and 'Call Me' as well as Al Green's signature song 'Let's Stay
Together'. 'Let's Stay Together', which reached Number 1 in the US,
is ranked 60th by Rolling Stone in their '500 Greatest Songs of All
Time' and was inducted into the Grammy Hall of Fame in 1999. The
catalogue also includes Booker T & The M.G's Top 10 tracks
'Time is Tight' and 'Green Onions'. 'Green Onions' is regarded as
one of the most popular instrumental rock and soul songs of all
time and was introduced into the Grammy Hall of Fame in 1999. It
has featured in numerous movies and TV shows, including
Quadrophenia, The Sandlot and The Sopranos.
In addition to co-writing some of the greatest songs of all
time, the catalogue includes Al Jackson Jr.'s artist royalties on
some of the most significant recordings of the era which he
co-produced or featured on as a drummer. These include Otis
Redding's global Number 1 '(Sittin' On) The Dock of the Bay', which
won two Grammy Awards, as well as Bill Withers' timeless album
'Just as I am' which includes the legendary US Top 5 single 'Ain't
No Sunshine' and the soul classic 'Grandma's Hands'.
With Booker T & The M.G's, Al Jackson Jr. was introduced
into the US Rock and Roll Hall of Fame in 1992 and the Memphis
Music Hall of Fame in 2012. He was separately introduced
individually into the Memphis Music Hall of Fame in 2015.
Hipgnosis has acquired 100% of the copyright interest in Al
Jackson Jr.'s catalogue, which includes his writer's, producer's
and artist's share of income, comprising of 185 compositions and
199 recordings.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"The word evergreen is used far too frequently to truly express
the incredible power of Al Jackson Jr.'s work as a co-creator of
some of the finest music of all time. Whether as songwriter,
producer, musician, or artist his incredible influence on songs and
recordings as important as Al Green's 'Let's Stay Together', Booker
T & The M.G's 'Green Onions', Bill Withers' 'Ain't No Sunshine'
and Otis Redding's '(Sittin' On) The Dock Of The Bay' to name but a
few is as much a foundation of American music as any. This is not
just pop music, or black music, or American music. This music is
part of the foundation on which the entire world spins. We are
proud to be the custodians of Al Jackson Jr.'s incredible work and
to celebrate him in a way that is worthy of his almost singular
achievements."
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. In its Subsequent Placing under its Placing Programme on
12 April 2019, the Company raised approximately GBP140m of further
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, Giorgio Tuinfort, Starrah, Nick Jarjour, David
Stewart, 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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