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Merck Mercuriadis to Exit as Hipgnosis Song Management Chairman Ahead of Blackstone Acquisition
Merck Mercuriadis will exit as chairman of Hipgnosis Song Management upon closing of the proposed acquisition by Lyra Bidco Limited.
In fact, Mercuriadis spent over $3 billion in acquisitions before the overspending and problematic management of the company caused them to lose more than half of its value. In a statement issued Tuesday morning, Mercuriadis said, “Six years after founding HSM, I have decided that now is the right time for me to step back from my role as Chairman. He continued, “As Hipgnosis Songs Fund enters the next phase of its development, now is the right time to hand the reins to a trusted and highly capable team.
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