MERCK BUYS AGAIN

Merck Mercuriadis has acquired another key songwriter catalog with his Hipgnosis Songs Fund, adding 214 songs by Poo Bear to a growing stable of copyrights that now includes hits performed by Justin Bieber, Luis Fonsi and Daddy Yankee.

Songwriter and producer Poo Bear, whose real name is Jason Boyd, has collaborated and had Top 10 hits with Usher, David Guetta, DJ Khaled, Chris Brown, Fifth Harmony, Jennifer Lopez and Skrillex. As one of Bieber’s closest collaborators, he co-wrote nine of the 13 songs on his hugely successful Purpose.

As part of a 100% acquisition, Hipgnosis now owns best-selling hits “What Do You Mean?,” “Where Are You Now?” and the English language version of “Despacito (Justin Bieber Remix)” by Luis Fonsi and Daddy Yankee.

The deal follows Hipgnosis’ purchase of a 75% interest in the catalog of four-time Grammy winner The-Dream for $23.75m after floating on the London Stock Exchange.

“It’s fortuitous to be able to acquire a song catalog of this importance so early in its life,” Mercuriadis said. “Poo Bear is an extraordinary young man whose songs have not only been #1 and won Grammy Awards but also have a long life in front of them.

“In a streaming world that is growing every day his songs are at the forefront. ‘Despacito,’ on its own, was #1 in more than 50 countries and is one of those truly rare songs that has united the globe. I’m delighted to welcome him to the Hipgnosis Songs Family.”

Poo Bear said: “I finally feel confident and comfortable that I’m doing this deal with the best company in the business. It’s beyond the money, it’s the assurance that my catalog will be respected and taken to even greater heights of success.”