Quantcast

MERCK RAISES ANOTHER $300M

Merck MercuriadisHipgnosis Songs has raised another $299.1m as its latest placement has been oversubscribed. It’s Hipgnosis’ biggest equity raise to date.

The company expects it will spend the net proceeds of the issue within three months.

“Our mantra is that proven songs produce predictable and reliable income and are a highly investable uncorrelated asset class that can rival gold,” Mercuriadis said.

“In line with our current performance we will do our utmost to continue to deliver strong results for our investors by buying extraordinarily successful proven songs by culturally important artists and managing them with great responsibility.

"At the same time we will use the influence of our great songs and financial wherewithal to bring reform to the way the songwriter is remunerated. The songwriter is unjustly at the bottom of the traditional music business economic equation; our intention is to take the songwriter to the top.”

HITS LIST:
CHANGE IS NOW
Is a seismic shift occurring? (2/23a)
UPDATE: A RECORD YEAR FOR LIVE NATION
Rapino's putting asses in seats on a massive scale. (2/23a)
TOMMY MOTTOLA:
THE HITS INTERVIEW
His Latin chapter is a page-turner. (2/23a)
NOTHING MATTERS DOES MATTER
Give 'em hell, KG. (2/23a)
BEYONCÉ’S HISTORY LESSON
A startling crossover move (2/21a)
OUR TOP 10 LIST FOR 2024
Just kidding. But we'll get there.
STRUM AND DRANG
How guitar music got big again.
GRAMMY GRAMMY GRAMMY
Start digging out your formal wear and let's do this.
THE NEXT BIG MONEY PLAY
it's not what you think.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)