Yahoo Finance Merck Mercuriadis Departing as Hipgnosis Song Management Chairman
Merck Mercuriadis stated on Tuesday he will be stepping down as chairman of Hipgnosis Song Management, a company he founded.
His departure from HSM, the artist management firm, will coincide with the completion of a deal to acquire London-based Hipgnosis Songs Fund Ltd by Lyra Bidco Ltd., a company owned by Blackstone-managed funds.
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The song rights powerhouse was founded in 2018 by Mercuriadis, a former music manager for Elton John, Beyoncé and Guns N’ Roses, among others. “Six years after founding HSM, I have decided that now is the right time for me to step back from my role as chairman. This is a timely opportunity for me to undertake a strategic shift of focus, and to spend more time advocating on behalf of songwriters to ensure that they are properly compensated for their work,” Mercuriadis said in a statement.
The former music manager and his company achieved growth by acquiring the songs and publishing catalogs of major music artists, including Justin Timberlake, Shakira, Michael Bublé, Metallica and Neil Young.
In Feb. 2024, Mercuriadis stepped down as the CEO of HSM, while retaining the chairman post, just as COO Ben Katovsky was promoted to CEO, assuming corporate management of the company.
Qasim Abbas, senior managing director at Blackstone Tactical Opportunities added in another statement: “On behalf of Blackstone, I would like to thank Merck for his support and contribution to HSM. Merck’s dedication to songwriters and his advocacy on their behalf is second to none and we respect and will seek to build on the platform he founded.”
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