Last Thursday, the London-based firm Hipgnosis Song Management announced they bought Justin Timberlake's entire musical catalog.
The purchase includes all of the 41-year-old singer-songwriter's musical copyrights, including songs the "Suit & Tie" singer co-wrote. It also encompasses music Timberlake released in association with movies, television and streaming.
According to the Wall Street Journal, the Timberlake acquisition is worth around $100 million.
The Hipgnosis Songs Fund now holds the rights to some of the biggest hit songs released in the 2010s, like "Cry Me a River," "SexyBack" and "Mirrors," just to name a few.
The purchase was made on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management and funds managed by private equity firm Blackstone.
"I am excited to be partnering with [Hipgnosis founder and CEO Merck Mercuriadis.] He values artists and their creative work and has always been a strong supporter of songwriters and storytelling. I look forward to entering this next chapter," Timberlake said.
Timberlake was not the first musical juggernaut to sell his catalog to Hipgnosis Song Management. The investment company has already spent billions on song rights.
Back in 2020, Bob Dylan sold his catalog for an estimated $300 million.
Other artists who sold song rights to Hipgnosis Song Management include Neil Young, The Red Hot Chili Peppers, Shakira and so many other big names in the music industry.
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