Canadian pop star Justin Bieber has reached an agreement to bring his music under the ownership of Hipgnosis Song Management, an investment organization backed by Slat Inc.
Hipgnosis purchased Bieber’s share of the publishing rights, master recordings and adjacent rights for his entire back catalog, which includes more than 290 titles released before the end of 2021, Hipgnosis said in a statement. announced on Tuesday. Universal According to a person familiar with the deal, Music Group continues to own the rights to the original recorded music catalog.
Hipgnosis does not provide financial details. Bieber’s rep did not immediately respond to a request for comment. Bloomberg report in December that Bieber’s stake could fetch around $200 million.
“This acquisition is among the largest ever made for an artist under the age of 70,” Merck Mercuriadis, founder and chief executive officer of Hipgnosis, said in the statement.
Blackstone partnered with Hipgnosis in 2021 and committed an initial $1 billion investment to launch a private vehicle called Hipgnosis Songs Capital to purchase the music rights and manage the catalog. Kenny Chesney, Leonard Cohen and Justin Timberlake are among other artists whose work has been purchased by Hipgnosis and Blackstone.
The transaction was previously reported by the Wall Street Journal.
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