Hipgnosis Tune Administration introduced at the moment that its founder and Chairman Merck Mercuriadis has given discover of his intention to step away as Chairman.
In keeping with the announcement at the moment (July 2), his departure from the corporate might be efficient upon closing of the proposed acquisition of Hipgnosis Songs Fund Restricted by Lyra Bidco Restricted, an organization owned by Blackstone-managed funds.
Merck Mercuriadis, founder and Chairman, Hipgnosis Tune Administration mentioned: “Six years after founding HSM, I’ve determined that now’s the precise time for me to step again from my function as Chairman. It is a well timed alternative for me to undertake a strategic shift of focus, and to spend extra time advocating on behalf of songwriters to make sure that they’re correctly compensated for his or her work.
“With Hipgnosis Songs Fund and Hipgnosis Songs Belongings we’ve got created an impressive catalogue of rights to an unrivalled assortment of iconic and culturally essential songs from phenomenal songwriters who I knew can be proud to face subsequent to one another. HSM has been constructed on an ethos that has at all times put the songwriting group first and I’m unwavering within the dedication I made to all our songwriters. I’ve at all times envisioned bringing songwriters collectively globally and arranged to make sure they’ve a voice on the desk, representing the consensus views of their group, in discussions about their compensation. With the following CRB 4 years away and ongoing laws being mentioned worldwide, the time to behave is now.
“As Hipgnosis Songs Fund enters the following part of its improvement, now’s the precise time at hand the reins to a trusted and extremely succesful group. I’m excited in regards to the firm’s future and its ongoing success with the assist of Blackstone.”
Qasim Abbas, Senior Managing Director, Blackstone Tactical Alternatives added: “On behalf of Blackstone, I wish to thank Merck for his assist and contribution to HSM. Merck’s dedication to songwriters and his advocacy on their behalf is second to none and we respect and can search to construct on the platform he based.
“We’re dedicated to the asset class, having (by means of Hipgnosis Songs Belongings) acquired the catalogues of a few of the world’s most essential songwriters and artists within the three years we’ve got partnered with Merck and HSM.
“With a powerful senior administration group now in place, the agency is nicely positioned to capitalize on the rising marketplace for music rights.”
Ben Katovsky, Chief Govt Officer, Hipgnosis Tune Administration, mentioned: “Merck’s imaginative and prescient and fervour in creating Hipgnosis, assembling a unprecedented portfolio of iconic songs and campaigning for songwriters to be pretty paid has been instrumental in Hipgnosis’ journey so far.
“I’m grateful for his assist and the belief that has been positioned in me and the HSM group to construct on his ardour. We stay dedicated to bringing the long-lasting songs in our care to new audiences and making certain that they benefit from the on-going success and consideration they so richly deserve.”Music Enterprise Worldwide
