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    SOND   GG00BFYT9H72

HIPGNOSIS SONGS FUND LIMITED

(SOND)
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Hipgnosis Songs Fund : KKR-led group nears deal for rights to hits by The Weeknd, Lorde - FT

10/12/2021 | 06:49pm EST

Oct 12 (Reuters) - A consortium led by private equity giant KKR & Co is nearing a deal to buy rights to music by pop icons Lorde and The Weeknd for $1.1 billon, the Financial Times reported on Tuesday, citing people familiar with the talks.

The investor group, which will take a majority stake, and the family office of Stephen Hendel, a former Goldman Sachs partner, are closing in on a deal to buy the catalogue from music company Kobalt, whose roster of artists also includes Paul McCartney and Stevie Nicks, the FT report said.

KKR declined to comment, while Kobalt did not immediately respond to a Reuters request for comment.

The deal for the catalogue could be announced as soon as this week, the report added.

This comes close on the heels of another major private equity investment in the music industry when Blackstone Inc partnered with an advisory firm owned by music executive Merck Mercuriadis to buy music rights and record songs. (https://reut.rs/2YKtOZp)

As part of the partnership, Blackstone said on Tuesday it would deploy around $1 billion and also take an ownership stake in Hipgnosis Song Management, an adviser to the London-listed music catalogues investor Hipgnosis Songs Fund. (Reporting by Chavi Mehta in Bengaluru; Editing by Maju Samuel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BLACKSTONE INC. -4.24% 135.25 Delayed Quote.117.93%
HIPGNOSIS SONGS FUND LIMITED -0.31% 127.8 Delayed Quote.3.81%
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04/30HIPGNOSIS SONGS FUND : Raises $15 Million in Share Issue To Fund Investment
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More news
Financials
Sales 2022 125 M 165 M 165 M
Net income 2022 -13,8 M -18,2 M -18,2 M
Net Debt 2022 387 M 512 M 512 M
P/E ratio 2022 -106x
Yield 2022 4,18%
Capitalization 1 550 M 2 050 M 2 051 M
EV / Sales 2022 15,5x
EV / Sales 2023 13,9x
Nbr of Employees 35
Free-Float 99,9%
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Technical analysis trends HIPGNOSIS SONGS FUND LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 128,00 GBX
Average target price 142,50 GBX
Spread / Average Target 11,3%
EPS Revisions
Managers and Directors
Andrew Lang Sutch Chairman
Simon Holden Independent Non-Executive Director
Vania Schlogel Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
HIPGNOSIS SONGS FUND LIMITED3.81%2 050