(Sharecast News) - Hipgnosis Songs Fund has acquired 50% of the copyright interest and writers share in the song catalogue of hip hop artist, songwriter and producer, and leader of Wu-Tang Clan, Robert 'RZA' Diggs, it announced on Monday.
The FTSE 250 music intellectual property investor said that, having co-written and produced almost all of Wu-Tang Clan's albums, as well as many of the solo albums released by the group's members, RZA is widely regarded as "one of the greatest producers" of all time.
It said all of RZA's works combined have more than three billion streams worldwide.
Hipgnosis has acquired 50% of RZA's worldwide copyrights, including publishing and writer share, in his catalogue comprising 814 songs, although financial terms of the acquisition were not disclosed.
"RZA and the Wu Tang Clan did not invent Hip Hop but they took it from being fun to something that represented a true reflection of what the streets, and being black in America was really like," said Hipgnosis founder Merck Mercuriadis.
"They were and are the most authentic band and brand in Hip Hop and it all starts with RZA's vision, his songs and his struggle, manifested in music, that could show the entire world what was really going on.
"He is now globally recognised as a true renaissance man of hip hop and most would argue that he is the goat."
At 0850 BST, shares in Hipgnosis Songs Fund were down 0.42% at 120.99p.
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