Jem Aswad Executive Editor, Music The troubled Hipgnosis Songs Fund, whose former CEO Merck Mercuriadis drove up the value of music catalogs with more than $3 billion in acquisitions before overspending and problematic management caused the company to lose more than half of its value, has agreed to a $1.4 billion sales to Nashville-based Concord, the companies announced in the early hours of Thursday. The catalogs involved include assets by Neil Young, the Red Hot Chili Peppers, Shakira and others.