The already-complicated battle over control of Hipgnosis Songs Fund grew even more so on Saturday, as the private equity firm Blackstone bid $1.5 billion to the troubled fund — which includes the rights to catalogs by Neil Young, Shakira, Blondie, Journey, Lindsey Buckingham and others — pushing aside Concord’s $1.4 offer made earlier in the week.
Blackstone already owns two other elements of Hipgnosis — the investment fund Hipgnosis Songs Capital and the advisor Hipgnosis Song Management. As noted by Music Business Worldwide, Blackstone’s offer is not yet “firm” — it is just a proposal — but if it is accepted, a firm offer would likely follow.
“Blackstone strongly encourages the
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