Hipgnosis, which was created by Quebec native Merck Mercuriadis, now owns 100% of the rights to songs composed and written by Timberlake, including his solo hits. Cry Me a River, SexyBack and Rock Your Bodybut also titles he created when he was in NSYNC, like bye bye bye.
The transaction was completed on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management and private investment firm Blackstone.
Details of the deal were not disclosed, but according to the wall street journal, sources familiar with the matter estimate the value of the purchase at more than US$100 million (C$128 million). The American daily adds that the agreement does not cover future releases of Timberlake.
I am very excited to partner with Merck [Mercuriadis] and Hipgnosis; he values artists and their creative work, and has always been a strong advocate for songwriterssaid Justin Timberlake.
Merck Mercuriadis, born in Schefferville, has shaken up the music industry since founding Hipgnosis in 2018. Based in London, the company is one of the most active in the field of music rights acquisition, with a catalog that exceeds 60,000 songs.
Last year, Neil Young made all of his 1,180 compositions available to Hipgnosis, sharing with the latter half of the revenue from the rights. A few months later, the company also acquired the complete catalog of Red Hot Chili Peppers, a transaction estimated at nearly 140 million US dollars (179 million Canadian dollars).