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.

 

SURF’S UP
FOR HITS LIST
Good vibrations (3/5a)
NEAR TRUTHS: UNCORKED
Jay-Z's blingy mountain of cash keeps gaining altitude. (3/5a)
UMG PULLS IN NEARLY
$9B IN 2020
Value keeps rising ahead of IPO. (3/5a)
MILEY JOINS COLUMBIA
Like moving to the apartment next door. (3/4a)
GRAMMY CHEW: THE
PRE-GRAMMY BOUNCE
Let's hear it for ironic guitar-smashing. (3/5a)
BLACK HISTORY MONTH
A jazz chronicle of fighting the power.
GRAMMYS: WHERE TO FROM HERE?
After the snubs, the show.
ACQUITTED
In a phenomenal display of cowardice.
MOVING THE NEEDLE
When vaccination schedules and touring schedules meet.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)