Neil Young has sold a 50% stake of his songwriting catalog to Hipgnosis Songs Fund, the company founded by former artist manager Merck Mercuriadis, The Associated Press reports. The sale includes the copyrights and income interests of approximately 1,180 songs that Young has written or co-written over his decades-long career. Exact financial terms have not been disclosed.
Young is the latest artist to make a deal with Hipgnosis, who also recently acquired Lindsey Buckingham’s publishing rights and Jimmy Iovine’s production rights. Mercuriadis and his firm have experienced acquisitions in the past year; Bob Dylan’s highly publicized sale of his songwriting catalog to UMPG reportedly came about after he turned down a $ 400 million offer from Hipgnosis.