This will soon be the Daily Hipgnosis Cash-Splashing News Site if the company continues at this rate of snapping up music catalogues.
This morning’s announcement concerns Debbie Harry and Chris Stein, the co-founders of Blondie, who have sold 100% of their writer’s share and neighbouring rights royalties to Hipgnosis for an undisclosed amount. This is a catalogue of 197 songs.
“Their singles have been not only massively successful but era and genre defining. Equally well they have made cultural albums of the greatest importance,” said Hipgnosis founder Merck Mercuriadis.
The news follows yesterday’s deal to buy Barry Manilow’s global recording royalties; July’s to buy the catalogue of songwriter and producer RedOne; and the same month’s announcement that Hipgnosis had increased its revolving credit facility to $400m to fuel its acquisitive urges.