advertisement
Business News

Influential Canadian Music Executive Merck Mercuriadis Stepping Down as Hipgnosis Song Management Chairman

The move coincides with a proposed sale of the valuable and publicly traded Hipgnosis Songs Fund catalogue business to private equity firm Blackstone.

Merck Mercuriadis

Merck Mercuriadis

Jill Furmonvsky

Hipgnosis Song Management has announced that Merck Mercuriadis will be stepping down as Chairman of the music investment advisor. The move comes amidst an eventful year for the company, with Hipgnosis Songs Fund set to be acquired by private equity firm Blackstone.

The Canadian Hipgnosis founder, who was named to this year's Billboard Canada Power Players list, previously stepped down in February as CEO to become Chairman. His notice will go into effect upon closing of the proposed acquisition on July 8 if shareholders of the publicly traded catalogue side, Hipgnosis Songs Fund, vote to sell, reports Billboard Pro.


“With Hipgnosis Songs Fund and Hipgnosis Songs Assets we have created an outstanding catalogue of rights to an unrivalled collection of iconic and culturally important songs from phenomenal songwriters who I knew would be proud to stand next to each other,” Mercuriadis said in a prepared statement.

advertisement

“HSM has been built on an ethos that has always put the songwriting community first and I am unwavering in the commitment I made to all our songwriters. I have always envisioned bringing songwriters together globally and organized to ensure they have a voice at the table, representing the consensus views of their community, in discussions about their compensation.”

Hipgnosis was part of a bidding war between Blackstone and Concord, which capped off a chaotic year that included infighting and numerous scandals while revealing how valuable the company's boasted $3 billion worth of assets are. That includes $400 million in 2023/2024 acquisitions of song catalogues by Justin Bieber, Shakira, Dua Lipa-songwriter Tobias Jesso Jr. and more – more than 50 No. 1 songs in total.

Under Mercuriadis, Hipgnosis led the way in turning song catalogues into an attractive asset class, which have become a hot investment in both the music industry and in the wider business world.

advertisement

In his statement, the music executive said it was the “right time” and a “timely opportunity for me to undertake a strategic shift of focus.”

Read more at Billboard Pro.

advertisement
Oasis
Simon Emmett

Oasis

Rock

Oasis’ Noel and Liam Gallagher Stoke Excitement For Reunion Tour With Private Shoot at London Club

Of course the neighbors reportedly complained that the brothers were being too noisy.

Noel and Liam Gallagher are just 67 days from kicking off their first tour in more than 16 years. And while the formerly battling brothers have kept a tight lid on what fans can expect from Oasis 2.0, according to reports from the U.K., they recently took the stage together for the first time in nearly two decades and, as you might expect, the neighbors complained about the noise.

According to The Guardian, the Gallaghers were pictured arriving at the Mildmay club in North London on Thursday, where they were reportedly filming a promo video for their sold-out summer reunion tour. They reportedly spent an hour at the club and made such a racket that the neighbors lodged a noise complaint. At press time a spokesperson for the group had not returned Billboard‘s request for additional information on the shoot.

keep readingShow less
advertisement