Merck Mercuriadis will step down as Chairman of Hipgnosis Song Management

Hipgnosis Song Management announced today that its founder and Chairman Merck Mercuriadis has given notice of his intention to step down as Chairman.

According to an announcement today (July 2), his departure from the company will be effective upon the closing of the proposed acquisition of Hipgnosis Songs Fund Limited by Lyra Bidco Limited, a subsidiary of Blackstone.

Merck Mercuriadis, founder and Chairman, Hipgnosis Song Management said: “Six years after founding HSM, I have decided that now is the right time for me to step down from my position as Chairman. This is a timely opportunity for me to make an important change, and spend a lot of time advocating for songwriters to make sure they are fairly compensated for their work.

“Through the Hipgnosis Songs Fund and Hipgnosis Songs Assets we have created an outstanding catalog of rights to an unparalleled collection of important and culturally significant songs from incredible songwriters that I knew would be proud to stand alongside each other. HSM is built on an ethos that always puts the songwriting community first and I am unwavering in the commitment I make to all our songwriters. I have been thinking about bringing together songwriters around the world and plan to ensure that they have a voice at the table, representing the consensus views of their community, in discussions about their compensation. With four years to go before the CRB and ongoing global legislative debate, the time to act is now.

“As the Hipgnosis Songs Fund enters the next phase of its development, now is the right time to hand over the reins to a trusted and highly talented team. I am excited about the future of the company and its continued success with the support of Blackstone.”

Qasim Abbas, Senior Managing Director, Blackstone Tactical Opportunities added: “On behalf of Blackstone, I would like to thank Merck for its support and contribution to HSM. Merck’s dedication to songwriters and advocacy is second to none and we respect and will seek to build upon the platform he established.

“We are committed to the asset segment, by (through Hipgnosis Songs Assets) we have acquired a catalog of the most important songwriters and musicians in the world in the three years we have partnered with Merck and HSM.

“With a strong senior management team now in place, the company is well positioned to capitalize on the growing market for music rights.”

Ben Katovsky, Chief Executive Officer, Hipgnosis Song Management, said: “Merck’s vision and passion for creating Hipgnosis, assembling an extraordinary portfolio of popular songs and advocating for songwriters to be paid fairly has been a huge influence on Hipgnosis’ journey to date.” .

“I am grateful for his support and the trust placed in me and the HSM team to build on his love. We are committed to bringing the iconic songs we care about to new audiences and ensuring they enjoy the continued success and attention they richly deserve.”Music Business Worldwide