MERCK FOSTERS ANOTHER DEAL

Hipgnosis Song Management has acquired the writer’s share of performance income for all songs written by David Foster, whose hit songwriting stretches from Cheryl Lynn’s “Got To Be Real” to Michael Bublé’s “Everything.”

The acquisition was made on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management and funds managed by Blackstone.

“David is recognized globally as one of the greatest songwriters and producers of all time. He is the songwriters’ songwriter and the producers’ producer,” said Merck Mercuriadis, CEO and founder of Hipgnosis Song Management. “David is truly special, and we are delighted to be working with his almost 50 years of incredible songs and to welcome him to the Hipgnosis family.”

The winner of 16 Grammy Awards and a member of the Songwriters Hall of Fame, Foster has to his credit Oscar nominees “I Have Nothing” by Whitney Houston, Celine Dion & Andrea Bocelli’s “The Prayer” and Peter Cetera’s “Glory of Love,” plus hits such as Earth, Wind & Fire’s “After the Love Has Gone,” Kenny Loggins' "Heart to Heart" and Chicago’s “Hard To Say I’m Sorry.”

Foster was advised by business manager Howard Grossman of Gelfand, Rennert & Feldman and attorney Michael O. Crain of Crain Law Group.