- Justin Timberlake is the latest music star to sell the rights to his songs for a huge sum of money.
- He sold the rights to his song catalog to Hipgnosis Songs Capital, a fund backed by private equity firm Blackstone.
- Timberlake’s hits includes “Cry Me a River,” “SexyBack,” “Can’t Stop the Feeling” and NSYNC songs such as “Bye Bye Bye.”
Buy, buy, buy.
Pop superstar Justin Timberlake, who got his start in the boy band NSYNC, has sold the rights to his song catalog to Hipgnosis Song Management, the British firm announced Thursday.
The deal was completed on behalf of Hipgnosis’ partnership with private equity firm Blackstone, Hipgnosis Songs Capital. It is said to be valued at more than $100 million. The Wall Street Journal, which first reported the news, added that the agreement does not cover future releases from Timberlake.
The superstar said he is “excited” about the partnership. “I look forward to entering this next chapter,” he said in a release.
Timberlake’s hits include “Cry Me a River,” “SexyBack,” “Can’t Stop the Feeling” and NSYNC songs such as “Bye Bye Bye.”
Timberlake, 41, is the latest music star to sell the rights to his songs for a huge sum of money.
In December, Bruce Springsteen sold his catalog to Sony for $550 million. A month later, in January of this year, Bob Dylan sold his catalog of recorded music to Sony, as well. That came after Dylan sold his songwriting catalog to Universal Music Publishing Group in December 2020. Tina Turner sold her catalog for about $50 million to BMG in October.
Source: Business - cnbc.com
