TIDMSONG
RNS Number : 0054I
Hipgnosis Songs Fund Limited
30 March 2020
30 March 2020
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited and its Investment
Adviser, The Family (Music) Limited, are pleased to announce that
the Company has acquired the music catalogue of Songwriters Hall of
Fame and Rock and Roll Hall of Fame inductee Richie Sambora. Richie
is a legendary guitarist, singer, songwriter and producer, most
notably known as the lead guitarist and co-writer of the American
rock band Bon Jovi.
Richie Sambora, with Bon Jovi, released 12 studio albums, five
compilations and two live albums, selling more than 130 million
records worldwide, making them one of the bestselling bands of all
time. Richie Sambora has co-written four US Number 1 Pop singles
and one Country Number 1. In total he has had six US Top 5 songs
and 10 US Top 10 songs as well as 5 UK Top 5 songs and 18 UK Top 10
songs.
Bon Jovi are arguably the most successful Rock band in the world
of the last 35 years rising to International stardom with their
1986 album 'Slippery When Wet' which sold over 28 million copies
going on to be certified 12x platinum in the US and included the
Number 1 singles 'You Give Love a Bad Name' and the triple platinum
certified 'Livin' on a Prayer'.
Following the success of 'Slippery When Wet', Richie Sambora
went on to release nine further Number 1 or platinum certified
albums with Bon Jovi including the US and UK Number 1 'New Jersey'
which has sold over 15 million copies worldwide and included the
Number 1 songs 'Bad Medicine' and 'I'll Be There For You'; the US
double platinum certified albums 'Keep the Faith' and 'Crush'; the
US platinum certified albums ' These Days', 'Have a Nice day' and
'Lost Highway'; and the US Number 1 albums 'The Circle' and 'What
about Now'.
Bon Jovi remain one of the most listened to bands of their time
with both 'Slippery When Wet' and 'Livin' On A Prayer' ranking in
the Top 10 most streamed albums and songs respectively of the last
35 years.
In addition to his hit songs for Bon Jovi, Richie Sambora
released three solo albums which have sold more than two million
copies worldwide; penned Number 1 country songs for Jennifer
Nettles and Leann Rimes; and co-wrote Cher's 1987 platinum
certified comeback album "Cher" as well as its 1989 follow up
"Heart Of Stone" which has sold more than four million copies.
Richie Sambora and Jon Bon Jovi were inducted into the
Songwriters Hall of Fame in 2009 and the Rock and Roll Hall of Fame
in 2018. The band received the Award of Merit at the American Music
Awards in 2004 and have been nominated for more than 50 awards all
over the world including 10 Grammy Awards.
Hipgnosis has acquired 100% of Richie Sambora's publishing and
writer's share royalties in his catalogue which comprises 186
songs.
Richie Sambora was represented in the sale by his longtime
lawyer Michael Guido at Carroll, Guido & Groffman Cohen Bar
& Karalian, LLP.
Merck Mercuriadis, Founder of The Family (Music) Limited and
Hipgnosis Songs Fund Limited, said:
" In uncertain times such as this you are reminded of the power
of great songs and great music and amongst the greatest set of
songs of the last 35 years are the incomparable songs Richie
Sambora co-wrote for Bon Jovi and other great artists. He's a
musician's musician and a songwriter's songwriter and is one of the
very precious few that is an inductee of both the Songwriters Hall
of Fame and the Rock and Roll Hall of Fame. I am delighted to
welcome Richie to the Hipgnosis family and look forward to working
closely with him for many years to come on this elite set of songs.
"
Richie Sambora said:
" I'm very privileged to have had the incredible success I have
achieved as a songwriter and artist to date. These songs are very
important to me and I feel very strongly that Merck is the only
person I could have entrusted my babies to. I believe the work he
is doing that has transformed the way that the world looks at the
power of great songs and the songwriting community is very special.
I look forward to working with him and his Hipgnosis team to
deliver more success for all of us. "
For further information, please contact:
The Family (Music) Limited Tel: +44 (0)1481 742742
Merck Mercuriadis
N+1 Singer - Joint Corporate Broker Tel: +44 (0)20 7496
James Maxwell / James Moat (Corporate 3000
Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales)
J.P. Morgan Cazenove - Joint Corporate Tel: +44 (0)20 7742
Broker 4000
William Simmonds / Jérémie Birnbaum
(Corporate Finance)
James Bouverat (Sales)
The Outside Organisation Tel: +44 (0)7711 081
Alan Edwards / Nick Caley 843
NOTES TO EDITORS
About Hipgnosis Songs Fund Limited
( www.hipgnosissongs.com )
Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey
registered investment company established to offer investors a
pure-play exposure to songs and associated musical intellectual
property rights. The Company has raised a total of over GBP625
million (gross equity capital) through its Initial Public Offering
on 11 July 2018, and subsequent issues in April 2019, August 2019
and October 2019. In September 2019, Hipgnosis transferred its
entire issued share capital to the Premium listing segment of the
Official List of the FCA and to the London Stock Exchange's Premium
segment of the Main Market.
About The Family (Music) Limited
The Company's Investment Adviser is The Family (Music) Limited,
which was founded by Merck Mercuriadis, former manager of globally
successful recording artists, such as Elton John, Guns N' Roses,
Morrissey, Iron Maiden and Beyoncé, and hit songwriters such as
Diane Warren, Justin Tranter and The-Dream, and former CEO of The
Sanctuary Group plc. The Investment Adviser has assembled an
Advisory Board of highly successful music industry experts which
include award winning members of the artist, songwriter,
publishing, legal, financial, recorded music and music management
communities, all with in-depth knowledge of music publishing.
Members of The Family (Music) Limited Advisory Board include Nile
Rodgers, The-Dream, Giorgio Tuinfort, Starrah, Nick Jarjour, David
Stewart, Bill Leibowitz, Ian Montone, and Jason Flom.
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END
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