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(Alliance News) - Hipgnosis Songs Fund Ltd on Thursday announced it has acquired the music catalogue of pop songwriter Carole Bayer Sager.
The London-based music royalty investment company said Bayer Sager is best known for her work as a songwriter and producer for some of the world's most successful artists, and has collaborated with Barbra Streisand, Michael Jackson, Frank Sinatra and Bob Dylan.
Hipgnosis has acquired 100% of Bayer Sager's catalogue, which spans 55 years and contains popular songs such as A Groovy Kind of Love and That's What Friends Are For.
No financial details of the deal were disclosed.
"This is one of the most important deals we have ever made. Carole's iconic songs have been making the world go around for more than 55 years. She has an elegance with words that has made these songs universal and they are not only enormously successful but truly beloved all over the globe. It's very special to welcome Carole to the Hipgnosis family and it's an honour to now be the custodians of these incredible songs that are of genuine cultural importance," said Founder Merck Mercuriadis.
Shares in Hipgnosis Songs Fund were down 0.3% at 117.12 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
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