14th Oct 2020 10:17
(Alliance News) - Hipgnosis Songs Fund Ltd on Wednesday said it has acquired 100% of Antonio Marquis 'LA' Reid's publishing interests and writers share of income in his catalogue comprising 162 songs.
The investment company focused on musical intellectual property rights said Reid also will join the advisory board of the company's investment adviser, Family (Music) Ltd.
Hipgnosis didn't disclose the financial terms of the agreement.
Reid's songwriting and production successes include Boyz II Men's hit 'End of the Road'. He also collaborated with Bobby Brown on his 12 million-selling album 'Don't Be Cruel', including the singles 'Every Little Step', 'Don't Be Cruel', 'Roni', and 'Rock Wit'Cha'.
Reid co-founded LaFace Records, later merged with Arista Records.
Shares in Hipgnosis Songs Fund were up 0.3% at 115.80 pence each in London on Wednesday morning.
By Tapan Panchal; [email protected]
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