Hipgnosis Song Management's Merck Mercuriadis to step down as chairman (updated)

Hipgnosis Songs Fund

02/07/2024 15:42

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       July 2 (Reuters) - Hipgnosis Song Management (HSM) said
on Tuesday founder Merck Mercuriadis would step down as its
chairman once the proposed acquisition of music investor
Hipgnosis Songs Fund  SONG.L  by a firm owned by
Blackstone-managed funds gets completed.
    Private equity firm Blackstone  BX.N  is a majority
shareholder in HSM, which manages artists and songwriters for
Hipgnosis Songs Fund.
    In June, Blackstone said its takeover proposal for Hipgnosis
Songs Fund would be its final for the London-listed music rights
owner.
    Music industry veteran Mercuriadis had stepped down as the
CEO of HSM, the company said in February, to take on the newly
created role of chairman.

 (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Shounak Dasgupta)
 ((abyjose.koilparambil@thomsonreuters.com))