Pop juggernaut Justin Bieber has sold his music publishing and recording catalogue shares to the Blackstone-backed Hipgnosis Songs Capital for $200m, the company said, marking the industry’s latest blockbuster rights deal.
The sale has been rumoured for weeks and sees the 28-year-old join a who’s who of artists who have cashed out recently on their catalogues.Hipgnosis did not publicly disclose the terms of the deal, but a source close to the matter told AFP news agency it was worth about $200m.
“The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable,” Hipgnosis chief Merck Mercuriadis, a longtime music industry executive, said in a statement on Tuesday.
