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Hipgnosis Drama Continues: Blackstone Bids $1.5 Billion for Troubled Music Fund, Topping Concord

Jem Aswad Executive Editor, Music The already-complicated battle over control of Hipgnosis Songs Fund grew even more so on Saturday, as the private equity firm Blackstone bid $1.5 billion to the troubled fund — which includes the rights to catalogs by Neil Young, Shakira, Blondie, Journey, Lindsey Buckingham and others — pushing aside Concord’s $1.4 offer made earlier in the week. Blackstone already owns two other elements of Hipgnosis — the investment fund Hipgnosis Songs Capital and the advisor Hipgnosis Song Management — and the move reflects founder Merck Mercuriadis’ determination to retain control of the company.
variety.com

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