Neil Young Sells 50% Stake In His Songs
Canada’s Neil Young has sold a 50 percent stake in his music catalogue.
UK-based Hipgnosis Songs Fund paid a reported $190 million for half the rights to 1,180 songs by the Toronto-born singer, including classics like “Heart Of Gold” and “Harvest Moon.”
Merck Mercuriadis of Hipgnosis promised that the deal does not mean Young’s songs will be heard in fast food commercials.
“I built Hipgnosis to be a company Neil would want to be a part of,” he said, in a statement. “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.”
Young, 75, has not commented on the deal.
Hipgnosis recently acquired Lindsey Buckingham’s publishing rights and Jimmy Iovine’s producing royalties. It also owns the catalogues of Blondie, RZA and L.A. Reid.
In December, Universal Music Publishing Group announced it acquired the rights to all of Bob Dylan’s music.
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