TIDMSONG
RNS Number : 6873K
Hipgnosis Songs Fund Limited
06 January 2021
6 January 2021
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited, the first UK listed
investment company offering investors a pure-play exposure to songs
and associated intellectual property rights, and its Investment
Adviser, The Family (Music) Limited, are pleased to announce that
the Company has acquired 50% of Neil Young's worldwide copyright
and income interests in his entire song catalogue comprising 1,180
songs.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
"I bought my first Neil Young album aged 7. 'Harvest' was my
companion and I know every note, every word, every pause and
silence intimately. Neil Young, or at least his music, has been my
friend and constant ever since. Over the last 50 years that
friendship took me back to Buffalo Springfield, Crosby, Stills,
Nash & Young, 'Everybody Knows This Is Nowhere', 'After The
Gold Rush', and guided me forward to 'On The Beach', 'Tonight's The
Night', 'Zuma', 'Comes A Time', 'Rust Never Sleeps', 'Trans', 'This
Notes For You', 'Freedom', 'Ragged Glory', 'Greendale' and through
each successive album and on to last year's 'Colorado'. They're
part of who I am, they're in many ways responsible for who I've
become and they're most certainly in my DNA. I knew I would never
be a singer or songwriter myself so my love for Neil also extended
to his manager Elliot Roberts, who is sadly no longer with us.
Elliot was the template for who I wanted to be. He and Neil were
partners in crime and Elliot made sure the art was never
compromised and the commerce always maximized. He complemented
Neil's integrity perfectly and together they protected the songs so
fiercely that they became important to millions of people all over
the world. This was personal conduct that you could aspire to,
something you could believe in. Somewhere along the way Elliot
became a mentor to me and my friend. This allowed me to collide
with Neil from time to time and Frank Gironda as well. We had a
mutual respect as people whose lives were changed forever by music
and particularly by this magical music. With Elliot's passing last
year it was only natural that Frank, who had so ably worked
alongside him, would step into his shoes and also as it now turns
out logical for Hipgnosis to partner with Neil to ensure his
incredible songs reach all corners of the earth. I built Hipgnosis
to be a company Neil would want to be a part of. We have a common
integrity, ethos and passion born out of a belief in music and
these important songs. There will never be a "Burger Of Gold" but
we will work together to make sure everyone gets to hear them on
Neil's terms. There's a good chance their life will be changed just
like mine was. This is a deal that changes Hipgnosis forever and
it's a dream to welcome Neil, Frank, Bonnie and the team to the
Hipgnosis family."
Neil Young rose to prominence in the 60's and 70's and is widely
considered one of the most important and influential songwriters of
all time with his phenomenal success continuing through to the
present moment. Young has been incredibly successful for his work
not only as a solo artist but also with hugely popular bands
including Buffalo Springfield, Crazy Horse and Crosby, Stills, Nash
& Young. In total, Young has released almost 50 studio albums
and more than 20 live albums, of which 18 are certified gold, 7 are
platinum and 3 are multi-platinum. Seven of his albums have been
listed on Rolling Stone Magazine's "500 Greatest Albums of All
Time" chart, including 'Everybody Knows This is Nowhere', 'After
The Gold Rush', 'Déjà Vu' (with Crosby, Stills, Nash & Young)
'Harvest', 'On The Beach', 'Tonight's the Night', and 'Rust Never
Sleeps'.
Over his seven-decade long career, Young has received an
astonishing 27 Grammy Award nominations, 28 Juno Award nominations,
and has been inducted to the Rock and Roll Hall of Fame twice - as
a solo artist and as a member of Buffalo Springfield.
For further information, please contact:
The Family (Music) Limited Tel: +44 (0)1481 742742
Merck Mercuriadis
N+1 Singer - Joint Corporate Broker Tel: +44 (0)20 7496
James Maxwell / James Moat / Amanda 3000
Gray (Corporate Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales)
J.P. Morgan Cazenove - Joint Corporate Tel: +44 (0)20 7742
Broker 4000
William Simmonds / Jérémie
Birnbaum (Corporate Finance)
James Bouverat (Sales)
RBC Capital Markets - Joint Corporate Tel: +44 (0)20 7635
Broker 4000
Will Smith / Elliot Thomas / Lauren
Davies (Corporate Finance)
Lisa Tugwell (Sales)
Ocorian - Company Secretary & Administrator Tel: +44 (0) 1481
Julian Carey 742742
The Outside Organisation Tel: +44 (0)7711 081
Alan Edwards / Nick Caley 843
FTI Consulting Tel: +44 (0)7771 978220;
Neil Doyle/ Paul Harris/ Laura Ewart +44 (0)7809 411882;
+44 (0)7761 332646
All US music publicity enquiries
Fran Defeo +1 917 767 5255
NOTES TO EDITORS
About Hipgnosis Songs Fund Limited
( www.hipgnosissongs.com )
Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey
registered investment company established to offer investors a
pure-play exposure to songs and associated musical intellectual
property rights. The Company has raised a total of over GBP1.05
billion (gross equity capital) through its Initial Public Offering
on 11 July 2018, and subsequent issues in April 2019, August 2019,
October 2019, July 2020 and September 2020. In September 2019,
Hipgnosis transferred its entire issued share capital to the
Premium listing segment of the Official List of the FCA and to the
London Stock Exchange's Premium segment of the Main Market, and in
March 2020 became a constituent of the FTSE 250 Index.
About The Family (Music) Limited
The Company's Investment Adviser is The Family (Music) Limited,
which was founded by Merck Mercuriadis, former manager of globally
successful recording artists, such as Elton John, Guns N' Roses,
Morrissey, Iron Maiden and Beyoncé, and hit songwriters such as
Diane Warren, Justin Tranter and The-Dream, and former CEO of The
Sanctuary Group plc. The Investment Adviser has assembled an
Advisory Board of highly successful music industry experts which
include award winning members of the artist, songwriter,
publishing, legal, financial, recorded music and music management
communities, all with in-depth knowledge of music publishing.
Members of The Family (Music) Limited Advisory Board include Nile
Rodgers, The-Dream, Giorgio Tuinfort, Starrah, Nick Jarjour, David
A. Stewart, Bill Leibowitz, Ian Montone, Rodney Jerkins, Bjorn
Lindvall and Chris Helm.
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