merck mercuriadishipgnosis
20:38 Tuesday, 2 July 2024
Merck Mercuriadis stated on Tuesday he will be stepping down as chairman of Hipgnosis Song Management, a company he founded, reports The Hollywood Reporter.
His departure from HSM, the artist management firm, will coincide with the completion of a deal to acquire London-based Hipgnosis Songs Fund Ltd by Lyra Bidco Ltd., a company owned by Blackstone-managed funds.
The song rights powerhouse was founded in 2018 by Mercuriadis, a former music manager for Elton John, Beyoncé and Guns N’ Roses, among others. “Six years after founding HSM, I have decided that now is the right time for me to step back from my role as chairman. This is a timely opportunity for me to undertake a strategic shift of focus, and to spend more time advocating on behalf of songwriters to ensure that they are properly compensated for their work,” Mercuriadis said in a statement.
Read the full report at The Hollywood Reporter.
