Bloomberg has reported that private equity firm Blackstone is in talks with Merck Mercuriadis to manage a new fund that would be affiliated with his Hipgnosis Songs. The resulting vehicle, its sights set on music catalogs, could be worth $1b in equity and debt.
In Hipgnosis' three years, Mercuriadis has spent close to $2b on catalogs and copyrights.
According to the report, any agreement with Blackstone would stipulate a role for Mercuriadis similar to his leadership of Hipgnosis, which is operated by his artist-management company. While it's not likely that Blackstone would purchase shares of Hipgnosis, it could invest in the management firm.
We reached out to Merck for comment, but his assistant informed us that he no longer associates with peasants.
TYLER IS HEADED TO THE TOP
Unconventional move by unconventional dude is paying off. (10/30a)
| ||
THE GRAMMY SHORT LIST
Who's already a lock?
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
ALL THE WAY LIVE
The players, the tours, the enormous beers.
|