22nd Dec 2022 08:45
(Alliance News) - Canadian pop star Justin Bieber is close to agreeing a deal to sell his music rights to Hipgnosis Songs Capital for about USD200 million, the Wall Street Journal reported on Wednesday.
Citing "people familiar with the matter", the newspaper said the agreement would include Bieber's interest in both his publishing and recorded music catalogue.
Hipgnosis Songs Capital is a partnership between Hipgnosis Song Management Ltd and US private equity firm Blackstone LLP. Hipgnosis Song Management is the investment advisor of London-listed Hipgnosis Songs Fund Ltd.
Hipgnosis Songs Fund was up 0.8% at 88.23 pence in London early Thursday.
By Tom Waite, Alliance News editor
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