Pop icon Justin Timberlake has sold his song catalog rights to Hipgnosis Songs Capital, a fund backed by private equity firm Blackstone.
Hipgnosis announced on Friday that it has bought 100 percent “of all of Justin Timberlake’s copyright, ownership and financial interests of the writer and publisher’s share of public performance income, and the catalog of musical compositions written by Justin Timberlake.”
The sale also includes “the worldwide administration rights to the compositions, subject to the remaining term of Universal Music’s administration rights, which expire in 2025.”
“I am excited to be partnering with Merck and Hipgnosis – he values artists and their creative work and has always been a strong supporter of songwriters and storytelling,” Timberlake said. “I look forward to entering this next chapter.”
“Justin Timberlake is not only one of the most influential artists of the last 20 years, but he’s also one of the greatest songwriters of all time. His hit songs including ‘Cry Me a River,’ ‘Rock Your Body,’ ‘SexyBack,’ ‘My Love,’ ‘What Goes Around.Comes Around,’ ‘Suit & Tie,’ ‘Mirrors’ and ‘Can’t Stop the Feeling’ are amongst the most iconic of the period. Putting this deal together has been a complete labor of love,” Hipgnosis Song Management founder Merck Mercuriadis said.
Financial details of the deal weren’t disclosed. Citing unnamed sources, the Wall Street Journal said the value of the deal could be “just above $100 million” and does not include future works.
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