Justin Timberlake has sold the rights to all of his songs to Hipgnosis Song Management, the British company announced on Thursday. So the pop star became the latest on the long list of well -known artists to give up on the flurry of music catalog sales.
Hipgnosis, created by Quebec native Merck Mercuriadis, now owns 100% of the rights to the songs composed and written by Timberlake, along with his solo hits. Cry Me a River, SexyBack at Throw Your Bodybut as well as titles he made when he was at NSYNC, such as goodbye goodbye goodbye.
The transaction was completed on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management and private investment firm Blackstone.
Details of the deal were not disclosed, but according to wall street journal, sources familiar with the matter estimated the purchase price at more than US $ 100 million (C $ 128 million). The American daily added that the agreement does not cover future releases of Timberlake.
I am very happy to partner with Merck [Mercuriadis] and Hypgnosis; he values artists and their creative work, and has always been a strong advocate for songwriterssaid Justin Timberlake.
Merck Mercuriadis, born in Schefferville, has rocked the music industry since Hypgnosis was founded in 2018. Based in London, the company is one of the most active in the field of music rights acquisition, with a catalog beyond of 60,000 songs.
Last year, Neil Young made all of his 1,180 compositions available to Hypgnosis, sharing the last half of the revenue from the rights. A few months later, the company also acquired the complete catalog of Red Hot Chili Peppers, a transaction estimated at nearly 140 million US dollars (179 million Canadian dollars).
Source: Radio-Canada
