TIDMSONG
RNS Number : 5080K
Hipgnosis Songs Fund Limited
05 January 2021
5 January 2021
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited, the first UK listed
investment company offering investors a pure-play exposure to songs
and associated intellectual property rights, and its Investment
Adviser, The Family (Music) Limited, are pleased to announce that
the Company has acquired a catalogue from one of the greatest
songwriters, guitarists and producers of all time, Lindsey
Buckingham, best known as the lead guitarist and vocalist of
Fleetwood Mac.
Hipgnosis has now, together with a 25% share acquired on 30
September 2020, acquired 100% of Lindsey Buckingham's music
publishing rights, including his Publishing and Writer's Share, of
his entire catalogue comprising 161 songs, as well as a 50% share
of any unreleased compositions.
Starting his music career in the early 70s, Buckingham released
his debut album 'Buckingham Nicks' in 1973 with his then partner,
Stevie Nicks. Following 'Buckingham Nicks', the duo joined Mick
Fleetwood, John McVie and Christine McVie to create the most
famous, and most consistent version, of the iconic rock band,
Fleetwood Mac.
In 1975, Fleetwood Mac released their self-titled album which
launched the band to musical stardom. The album, which reached
Number 1 on the US Billboard 200 chart, was ranked 182(nd) by
Rolling Stone Magazine on their "The 500 Greatest Albums of All
Time" chart, and has been certified 7x platinum in the US.
Buckingham's second album with Fleetwood Mac, 'Rumours', has
sold over 45 million copies worldwide making it one of the nine
bestselling albums of all time. An instant commercial success,
'Rumours' sold over 10 million copies worldwide in the month
following release and won "Album of the Year" at the 1978 Grammy
Awards. The album was named by Rolling Stone Magazine as the
seventh greatest album of all time, and has been certified 2x
diamond in the US and Canada, as well as 14x platinum in the UK.
'Rumours' produced four Top 10 singles, including the lead single
'Go Your Own Way', written by Buckingham, which was the band's
first Top 10 single and was ranked by Rolling Stone Magazine as
their 120(th) "Greatest Rock Song of All Time". 'Rumours' also
included the iconic hit 'The Chain' which was co-written by
Buckingham. In total, four of the album's 11 songs were written by
Buckingham. 'Go Your Own Way' and 'The Chain' have each been
streamed more than 1 billion times globally. Fleetwood Mac has more
than 22 million monthly listeners on Spotify alone and Buckingham's
four songs from 'Rumours' have collectively been streamed more than
1 billion times on that service alone.
In 1979, Fleetwood Mac released the multi-platinum album 'Tusk',
which topped the UK albums chart. 'Tusk' featured two Top 10
singles, and the title track, which reached Number 8 in the US, was
written by Buckingham.
Following 'Tusk', Buckingham released his first solo album 'Law
and Order' in 1981, which included the Top 10 single 'Trouble'
before returning to Fleetwood Mac to record the UK Number 1 and
multi-platinum album 'Mirage' which sold over 4 million copies.
This was followed in 1987 by the release of 'Tango in the
Night', which, having sold over 15 million copies worldwide, was
Fleetwood Mac's bestselling album since 'Rumours'. 'Tango in the
Night' featured four US Top 20 hits including 'Big Love', which was
written by Buckingham and was a key driver of sales, reaching the
Top 10 in both the US and the UK.
Buckingham and Fleetwood Mac band members reunited to perform
'Don't Stop' at the first inauguration of Bill Clinton in 1993, and
for the band's hugely successful 1997 reunion tour that led to the
live album 'The Dance' that is certified 5x platinum in the US.
In 2003, Buckingham and Fleetwood Mac released the album 'Say
You Will' which sold more than 2 million copies worldwide and
feature the hit single 'Peacekeeper' written by Buckingham.
As a member of Fleetwood Mac, Buckingham was inducted into the
Rock and Roll Hall of Fame in 1998 and in 2011 was listed in
Rolling Stone Magazine's '100 Greatest Guitarists of All Time'.
In addition to his work with Fleetwood Mac, Buckingham has
released five solo albums including 'Out of the Cradle', 'Under the
Skin', 'Gift of Screws' and 'Seeds We Sow'. His solo work also
includes soundtrack recordings for the film 'National Lampoon
Vacation' including the hit songs 'Holiday Road' and 'Dancing
Across the USA' which have become cult and commercial classics, as
well as the song 'Time Bomb Town' for the 'Back To The Future'
film.
In 2017, Buckingham and his Fleetwood Mac bandmate Christine
McVie released the UK Top 5 and certified silver album 'Lindsey
Buckingham Christine McVie'.
Lindsey Buckingham was represented by managers Matt Sadie and
Simon White at C3 Management, his attorney, David Altschul, of
Altschul Olin & Vandergast LLP, and his business manager, Rick
Mozenter of Gelfand, Rennert & Feldman.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said: "Lindsey Buckingham is one of
the greatest guitarists, songwriters and producers of all time yet
is still so underrated. His work with Fleetwood Mac has brought the
world unparalleled joy over the last 45 years and he belongs in any
discussion featuring Brian Wilson and Paul McCartney. It's
wonderful to welcome him and his iconic songs both as a solo artist
and with Fleetwood Mac to the Hipgnosis family".
Lindsey Buckingham said:
"Prior to arriving at an agreement with Hipgnosis, I had
wonderful long conversations with Merck Mercuriadis. I was pleased
to find a kindred spirit, someone who's a big fan of my work in
Fleetwood Mac, and an even bigger fan of my solo efforts. I look
forward to working with Merck and the whole Hipgnosis team going
into the future, and am confident that my body of work will be
curated with great heart and insight".
For further information, please contact:
The Family (Music) Limited Tel: +44 (0)1481 742742
Merck Mercuriadis
N+1 Singer - Joint Corporate Broker Tel: +44 (0)20 7496
James Maxwell / James Moat / Amanda 3000
Gray (Corporate Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales)
J.P. Morgan Cazenove - Joint Corporate Tel: +44 (0)20 7742
Broker 4000
William Simmonds / Jérémie
Birnbaum (Corporate Finance)
James Bouverat (Sales)
RBC Capital Markets - Joint Corporate Tel: +44 (0)20 7635
Broker 4000
Will Smith / Elliot Thomas / Lauren
Davies (Corporate Finance)
Lisa Tugwell (Sales)
Ocorian - Company Secretary & Administrator Tel: +44 (0) 1481
Julian Carey 742742
The Outside Organisation Tel: +44 (0)7711 081
Alan Edwards / Nick Caley 843
FTI Consulting Tel: +44 (0)7771 978220;
Neil Doyle/ Paul Harris/ Laura Ewart +44 (0)7809 411882;
+44 (0)7761 332646
All US music publicity enquiries
Fran Defeo +1 917 767 5255
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. The Company has raised a total of over GBP1.05
billion (gross equity capital) through its Initial Public Offering
on 11 July 2018, and subsequent issues in April 2019, August 2019,
October 2019, July 2020 and September 2020. In September 2019,
Hipgnosis transferred its entire issued share capital to the
Premium listing segment of the Official List of the FCA and to the
London Stock Exchange's Premium segment of the Main Market, and in
March 2020 became a constituent of the FTSE 250 Index.
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
A. Stewart, Bill Leibowitz, Ian Montone, Rodney Jerkins, Bjorn
Lindvall and Chris Helm.
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