The music catalogs of Shakira, Neil Young, and others just sold to a Nashville-based company for $1.4 billion
by Fast Company
Fast Company— Nashville-based independent music company Concord has agreed to buy Britain’s Hipgnosis Songs Fund for $1.4 billion, the companies said on Thursday, to gain rights to the catalogues of artists including Shakira and Neil Young. Hipgnosis, a music rights investment company founded by industry veteran and former CEO Merck Mercuriadis, launched a strategic review last year after a shareholder revolt led to a board overhaul, a portfolio revaluation, and a dispute with its investment adviser over a...
Music Business Worldwide—Latin music generated $1.4 billion in US recorded music revenues last year - up 16% YoY. The RIAA has published its Year-end Latin Music Report Source
CNBC—Beyonce and Shakira song fund Hipgnosis agrees $1.4 billion sale to Concord. Financing for the deal will be supported by Concord's partner Apollo Capital Management, the U.S. private equity giant.
AL.com—JD Sports acquiring Birmingham-based Hibbett in $1.1 billion deal. The North American revenue of the combined company would total $5.80 billion.