LONDON — Justin Timberlake on Thursday confirmed he has sold his song catalog to London-based Hipgnosis Song Management for an undisclosed sum.
Merck Mercuriadis, who founded Hipgnosis in 2018, called Timberlake “the iconic American singer, songwriter, record producer and actor who is one of the most influential artists of the last 20 years and named by Billboard as the best performing male solo artist in Top 40/Contemporary Hit Radio history.”
According to The Hollywood Reporter, Hipgnosis has been on a bit of a buying spree for music publishing catalogs or stakes in them, including purchasing the complete music catalog of Canadian singer Leonard Cohen, a 50% stake in Neil Young’s catalog, and hits performed by Rihanna and Shakira, among others.
Although financial terms of the sale were not disclosed, The Wall Street Journal reported that the deal was valued at slightly more than $100 million.
“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,” the “Cry Me A River” crooner said.
According to Reuters, the deal was brokered on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management and funds managed by investment firm Blackstone Inc., the advisory firm owned by Mercuriadis said in a statement.
Timberlake rose to fame as one-fifth of 1990′s boy band NSync, before launching one of the most successful solo careers in pop music history by creating a sound that fused pop, R&B, hip hop and dance genres, the news outlet reported.
He also appeared in films such as “The Social Network,” “Bad Teacher,” “Friends with Benefits” and “The Trouble With The Curve.”
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