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Blackstone’s Hipgnosis Acquisition Is Now Backing a $1.5B Securitization
Blackstone's Hipgnosis music catalog acquisition is backing a $1.5B ABS, backed by songs by Neil Young, Shakira, The Chainsmokers and others.
That review painted a damning picture of HSF’s’ operations and resulted in the sale of the fund’s catalog and the resignation of HSM’s chairman, Merck Mercuriadis, in July. Through all the drama, Blackstone ended up nabbing a catalog with such premium artists as Rick James, Enrique Iglesias, Steve Winwood and The Pretenders ’ Chrissie Hynde, with the tracks having an average age of roughly 19 years. However, there are currently four lawsuits involving assets in the catalog: the ongoing dispute with Barry Manilow regarding earn-out provisions; a copyright infringement claim over Mariah Carey ’s “All I Want For Christmas Is You”; a dispute over co-producer royalties from Timbaland recordings; and the so-called “dembow” lawsuit brought by Jamaican duo Steely & Clevie that alleges more than 1,800 reggaetón songs illegally copied the rhythm in the duo’s 1989 track “Fish Market.”
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