UK's Hipgnosis Songs Fund agrees to $1.4B sale to US-based Concord, integrating 15K songs into Concord's 1.2M-song portfolio.
UK-based music copyright owner Hipgnosis Songs Fund agreed to a $1.4 billion sale to US-based music company Concord. The acquisition is expected to benefit composers, performers, and stakeholders, and provide Hipgnosis shareholders with an immediate premium on their holdings. Concord, which owns music rights and companies, plans to integrate Hipgnosis's catalogues into its existing portfolio of 1.2 million songs. Hipgnosis's board unanimously approved the deal, which requires backing from investors and will be carried out through a court-approved arrangement.
April 18, 2024
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