Hipgnosis to Sell Nearly $500 Million in Song Catalogs to Elevate Stock, Pay Down Debt

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Hipgnosis Songs Fund’s board of directors announced Thursday that the company will sell two segments of its song catalog in a bid to increase its stock price and pay down debt. The statement, made … .

The statement, made in a dense 20-page document capably translated into plain English by Billboard, reveals that one package of assets includes 29 catalogs worth around $440 million, which the Blackstone-backed entity, Hipgnosis Songs Capital, has agreed to acquire The second package is worth $25 million and includes songs acquired in 2020 from Kobalt; the fund expects to announce a buyer later this month

The board introduced the $465 million in proposed sales along with proposals to buy back up to $180 million of its own stock, to pay down $250 million of its revolving debt and to introduce lower advisory fees to be paid to Hipgnosis Song Management Limited The company was founded by

Merck Mercuriadis in 2018 and has since acquired catalogs by Neil Young, Justin Timberlake and others, including many major songwriter-producers who may not be household names but have credits on an enormous number of hits headtopicscom

The proposals, which must be approved by…

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Hipgnosis Songs Fund to Sell Catalogues to Fund Buybacks, Cut DebtBy Ian Walker Hipgnosis Songs Fund is planning to sell 29 catalogues and a portfolio of non-core songs for $465 million to Hipgnosis Songs Capital to fund a…

Hipgnosis to Sell Song Catalogs Worth $465M to Boost Stock, Reduce DebtThat includes 29 catalogs worth $440 million that the London-listed fund’s board has agreed to sell to the Blackstone-backed Hipgnosis Songs Capital.

Music investor Hipgnosis to sell catalogues to bolster sharesMusic investor Hipgnosis Songs Fund will sell some of its catalogues, including songs by pop star Shakira and rapper Nelly, for $465 million to a private Blackstone vehicle to fund a share buy-back, pay down debt and bolster its stock price, the UK company said on Thursday.

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