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Hipgnosis Songs Fund acquires share of music catalogue of Rick James
StockMarketWire.com
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Music rights investor Hipgnosis Songs Fund said it has acquired a share of the music catalogue of Grammy Award-winning songwriter and record producer Rick James.
Hipgnosis confirmed its acquisition of 50% of James' publishing interests, writers' share, neighbouring rights and recorded masters share of income in his catalogue comprising 97 songs.
James' album 'Street Songs' spent 78 weeks on the US R&B chart, including 20 weeks at Number 1, and included the global hit 'Super Freak'. As a producer, he worked with Eddie Murphy and The Temptations.
The catalogue was acquired using proceeds from the company's July C share fundraising.
Merck Mercuriadis, founder of Hipgnosis Songs Fund Limited and The Family (Music) Limited, said: 'We are delighted to welcome his iconic work to the Hipgnosis family and look forward to working closely with his daughter Ty James and his estate to ensure his legacy shines.'
Story provided by StockMarketWire.com
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