Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Blackstone’s new bid for Hipgnosis receives positive reception

Reading Time: < 1 minute

Blackstone, the American private equity giant, is gearing up to make a fresh takeover offer for the company that owns the music catalogues of popular artists like Shakira and the Red Hot Chili Peppers. The bid, expected to be submitted as early as Monday, will surpass the $1.25-a-share offer recommended by Hipgnosis Songs Fund’s board last Thursday.

This move comes amidst an escalating bidding war between Blackstone and Concord Music, a larger rival backed by Apollo Global Management. The battle for control over some of the music industry’s most iconic assets, including songs by Blondie and the Kaiser Chiefs, underscores the high stakes involved.

Hipgnosis Songs Fund has been embroiled in turmoil, with shareholders rejecting the board’s plans last October and a subsequent review revealing discrepancies in the valuation of its assets. Blackstone, which already owns a majority stake in the company’s investment adviser, is now eyeing a takeover that could provide value for Hipgnosis shareholders.

The founder of Hipgnosis, Merck Mercuriadis, who previously managed artists like Beyonce and Elton John, struck a deal with Blackstone in 2018 to transform music royalties into a mainstream asset class. The outcome of the bidding war will not only determine the future ownership of these valuable music catalogues but also shed light on the ongoing relationship between Blackstone and Mercuriadis.

As the deadline for the fresh offer approaches, industry watchers are eagerly anticipating the next move in this high-stakes battle for control over some of the music industry’s most prized assets. Stay tuned for further developments as the bidding war intensifies.

Taylor Swifts New Album Release Health issues from using ACs Boston Marathon 2024 15 Practical Ways To Save Money