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(Sharecast News) - Hipgnosis Song Management has acquired Justin Timberlake's back catalogue, it emerged on Thursday, using cash from the Blackstone-backed fund it launched last year.
The company said it acquired 100% of Timberlake's copyright, ownership and financial interests of both the writer's and publisher's shares of public performance income, as well as the catalogue of compositions by Timberlake.
It also bought the worldwide administration rights to the compositions, with Universal Music's publishing administration rights set to expire in 2025.
The acquisition was made by Hipgnosis Song Management on behalf of Hipgnosis Songs Capital ICAV - the investment vehicle established in partnership with Blackstone in October 2021, and a separate company to the London-listed Hipgnosis Songs Fund.
"Justin Timberlake is not only one of the most influential artists of the last 20 years but he's also one of the greatest songwriters of all time," said Merck Mercuriadis, founder and chief executive officer of Hipgnosis Song Management.
"His hit songs including Cry Me A River, Rock Your Body, SexyBack, My Love, What Goes Around Comes Around, Suit & Tie, Mirrors and Can't Stop The Feeling are amongst the most iconic of the period.
"This is the beginning of what we believe will be an incredible relationship important to us all."
Reporting by Josh White at Sharecast.com.
