Billboard reports that a music IP company, Hipgnosis Songs, founded by Beyoncé’s former manager, Merck Mercuriadis, just raised £200 million (or $260 million) of investment capital with the goal of acquiring some of the pop queen’s most popular tracks. Mercuriadis, who also managed Guns N’ Roses, Elton John, and Diane Warren, won’t just be aiming for Bey though. Per Billboard, his company looking to gain “eight catalogs from well-known songwriters, spanning over 1,000 songs, including more than 10 Number 1s in the U.K. and U.S.” Before the fundraiser, a former IPO named Adele, Beyoncé, Justin Bieber, and Kanye West as potential musicians to go after.
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