13th Nov 2020 09:46
(Alliance News) - Hipgnosis Songs Fund Ltd on Friday said it has acquired a share of the music catalogue of Grammy Award-winning songwriter and producer Rick James.
The FTSE 250-listed music catalogue investor said James is best known for his platinum certified album Street Songs which spent 78 weeks on the US R&B chart including 20 weeks at Number 1, and included the hit Super Freak.
It added James has also worked on songs including Eddie Murphy's Party All the Time and Standing On The Top by The Temptations.
Hipgnosis has acquired 50% of Rick James' publishing interests, writers' share, neighbouring rights and recorded masters share of income in his catalogue comprising 97 songs.
No financial details of the deal were disclosed.
Merck Mercuriadis, founder of Hipgnosis, said: "Rick James was a true innovator. His 'punk funk' philosophy and style paved the way and influenced everyone from Prince to Michael Jackson to Jay Z and the biggest names in hip hop. He's one of the most sampled and interpolated creators of all time whose works have been turned into huge successes by MC Hammer, Lana Del Ray and Kendrick Lamar just to name a few."
The stock was trading 0.5% higher at 117.60 pence each on Friday morning in London.
By Ife Taiwo; [email protected]
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