Quantcast
MERCK RAISES A STOCKPILE OF CASH

Merck MercuriadisHipgnosis Songs Fund has raised more than $185m to use to acquire more music publishing assets, far exceeding estimates when the initial offer was made.

Merck raised the money by selling shares of the company to a handful of investors  at a price of 102 pence per share. It  was over-subscribed and has now closed. The company has raised $450m since its IPO in July.

“Less than a year ago we set out to demonstrate to the financial community that proven hit songs were as predictable and reliable, and therefore as investable as gold or oil,” Mercuriadis said. “I am delighted that we have this tremendous early support from best in class investors as this is not only a vote of confidence in Hipgnosis, it’s an acknowledgement of the power of hit songs all over the world.”

Hipgnosis catalogs include those of Nile Rodgers, The-Dream, Tricky Stewart and other hitmakers. Can Mercuriadis top his stated goal of securing more than $1b in three years? Stay tuned.

 

SONG REVENUE CHART: YOUNG & RICH
Lil Nas X and Billie Eilish just keep rakin' it in. (4/25a)
NEAR TRUTHS: I.B. BAD SPINS THE GLOBE
They got a name for the winners in the world. (4/25a)
SPRINGSTEEN GOES ORCHESTRAL
And now for something a bit different... (4/25a)
YOUR TOP 20:
STILL ASLEEP
Billie reclaims her crown. (4/25a)
UNEARTHING THE SONGS PRINCE GAVE AWAY
Another dip into the Purple One's massive archives (4/25a)
THE NEXT RECORDING ACADEMY HEAD IS...
(The envelope, please.)
THE WHOLE SPIEL ON BILLIE
We're handing out crowns.
THE FUTURE OF ROCK & ROLL IS...
Hang on, we just need to throw this TV out the window.
THERE'S PIZZA IN THE BACK
The pepperoni's all gone, though.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)