CANADA (CelebrityAccess) – Hipgnosis Song Management has announced the acquisition of a career-spanning catalog created by legendary Canadian artist and composer Leonard Cohen.
The acquisition marks a landmark deal for the Blackstone-backed Hipgnosis Songs Capital fund. Hipgnosis has acquired an interest in all 278 songs written by Leonard Cohen.
Within those 278 compositions, 127 songs are from Leonard Cohen’s Stranger Music catalog, for which Hipgnosis has acquired the writer’s share of royalties. The Stranger Music catalog covers the period from the inception of Cohen’s career to the year 2000 and includes all derivative works, making 211 songs. The publisher’s share of these works is owned by Sony Music Publishing.
This catalog includes “Hallelujah”, which has been covered more than 300 times and sold almost 10 million records, in addition to being streamed more than 5 billion times across all services. Hipgnosis has also acquired the ownership of 100% of the copyrights – including publisher’s and writer’s share – of royalties in the Old Ideas catalog, which consists of 67 songs written by Leonard Cohen from 2001 until he died in 2016.
The Leonard Cohen catalog purchase is the second publicly announced acquisition for the Hipgnosis Songs Capital fund, which has a billion dollars worth of backing from Blackstone. In January of this year, Hipgnosis announced it had acquired an 80% stake in the royalty stream of country music star, Kenny Chesney.