Hipgnosis acquires majority stake in Kenny Chesney recorded music royalties

completemusicupdate.com:

Hipgnosis has acquired an 80% stake in the recorded music royalties of country artist Kenny Chesney. The deal, which covers Chesney’s full catalogue, is the first that Hipgnosis has made since announcing a new partnership with investment firm Blackstone in October last year.“Kenny Chesney is one of the truly great American artists”, says Hipgnosis founder Merck Mercuriadis. “He has been bringing joy to music fans all over the world for almost 30 years.

His incredible success of more than 30 million records sold including nine number one albums on the all-genre Billboard 200 chart and seventeen number one albums on Billboard’s country chart tells you everything you need to know”.“Add in his unparalleled success as a touring artist and the juggernaut that is [Chesney’s SiriusXM channel] No Shoes Radio, and you realise Kenny is genuinely a phenomenon”, he continues. “It’s a pleasure and a privilege to welcome Kenny … to the Hipgnosis Songs family and we are delighted to launch our new Blackstone backed fund with this landmark acquisition”.Chesney adds: “To know that this music has a home that views the work as a collective body, something that builds on itself and captures the heart of [Chesney’s fan community] No Shoes Nation, was important to me.

How these songs live going forward is critical, and I believe Merck has the best interests of not just the recordings but the people who love them as his driving interest.