Song-investment fund Hipgnosis, evidently unfazed by the economic strains of the coronavirus (COVID-19) crisis, has acquired 70 percent of Mark Ronson’s song catalog.
The acquisition is the latest in a series of high-profile catalog purchases for the United Kingdom company, which was founded by former Guns N’ Roses, Elton John, and Beyoncé manager Merck Mercuriadis in 2018. In January, the investment fund made waves by buying the rights to Blink-182 co-founder Tom Delonge’s 157-song catalog, just one deal in a string of high-profile, ultra-expensive catalog buys.
And earlier this month, in another sign that Hipgnosis intends to continue investing and growing, it secured a $189 million credit facility with the assistance of Herbert Smith Freehills.
The 44-year-old London native also co-wrote the lead single for Lady Gaga and Bradley Cooper’s A Star is Born, “Shallow.” Bronson received a Grammy and an Academy Award for his efforts, bringing his grand total of Grammys to seven (having won the first in 2008).
Ronson’s newest studio album, Late Night Feelings, debuted in June 2019. Alicia Keys, Miley Cyrus, and Camila Cabello performed on the record, which was generally well-received by critics and fans.
As of late, Merck Mercuriadis has taken to social media to offer support for all those suffering amid the coronavirus crisis. Additionally, the 56-year-old has appealed to his followers to aid several COVID-19 relief charities and initiatives.
Hipgnosis’s stock, which is traded on the London Stock Exchange (LSE) under the symbol SONG, is currently worth about $123 (£99.80) per share. Though the company’s shares dipped in value following the domestic onset of the coronavirus crisis, they subsequently bounced back and, more broadly, have fared far better than those of many other music industry entities.