(CelebrityAccess) — Merck Mercuriadis’ Hipgnosis Songs Fund music investment platform has doubled the size of its catalog after acquiring the rights to 33,000 tracks from Kobalt Capital.
The deal, worth a reported $323m is the largest in Hipgnosis’s admittedly short history and includes the rights to classic tracks such as The B-52’s Rock Lobster and Love Shack, and Fleetwood Mac’s Go Your Own Way as well as contemporary hits by the likes of Katy Perry and Demi Lovato, according to the Financial Times.
“They are both small catalogues with songs of great cultural importance and an incredibly high degree of success within them from among the most important songwriters and artists in music’s rich history,” Merck Mercuriadis told The Financial Times.
Music publisher Kobalt, which was founded in 2000, launched their music investment fund in 2010 and raised over $350 to acquire catalog which, last year, generated $18 million for the company, the FT reported.
