Get the latest gossip

Concord Officially Calls Off Bid for Hipgnosis Songs Fund


Concord officially ends its bid for Hipgnosis Songs Fund, paving the way for Blackstone to add the London-listed catalog company to its portfolio.

Concord confirmed on Thursday it will no longer proceed with its $1.51 billion offer to buy Hipgnosis Songs Fund, giving rival bidder Blackstone a now unimpeded path to acquire the Merck Mercuriadis-founded company and its catalogs of the Red Hot Chili Peppers, Journey, Neil Young and others. Blackstone owns a majority stake in Hipgnosis Song Management (HSM), HSF’s investment advisor. The investment advisor Hipgnosis Song Management advises both that private fund and the public HSF.

Get the Android app

Or read this on Billboard

Read more on:

Photo of Concord

Concord

Related news:

News photo

Concord Bows Out of Bidding War for Hipgnosis Songs Fund, Blackstone Poised to Take Over

News photo

Concord Label Group Promotes Joe Dent & Jill Weindorf to EVP Roles

News photo

Concord Raises Offer in Fight to Take Over Hipgnosis Songs Fund