Merck Mercuriadis-led firm Hipgnosis Songs Fund has reportedly acquired Christine McVie's catalogs just seven months after purchasing 100% of Lindsey Buckingham's publishing rights.
Hipgnosis now owns the song copyrights and writers share for seven of Fleetwood Mac's 11 songs, 11 out of 16 songs on Greatest Hits, 9 of 12 songs on Mirage, 15 of Tusk's 20 songs, eight of Rumours' 11 songs, nine of 12 songs on Tango In The Night, and 12 of 17 songs on The Dance, combined with its Buckingham acquisition.
According to Hipgnosis' filings, the 115 songs bought in the deal cloaked in USD 1.7 million during 2020, USD 1.72 million in 2019, and USD 1.58 million in 2018. There are 11 No. 1s and 47 Top 10s among the songs. The catalog covers all compositions and Neighboring Rights, including international copyright, ownership, and financial interest, including Writer's Share.
Merck Mercuriadis, Founder of The Family (Music) Ltd. and Hipgnosis Songs Fund Ltd., mentioned that Christine McVie is one of the greatest songwriters, having guided Fleetwood Mac to about 150 million albums sold, and making them one of the best-selling bands ever.
Christine McVie expressed she is overjoyed to be a part of the Hipgnosis family and glad they believe all her songs are worthwhile. She appreciates their trust in her and will do everything she can to maintain this new relationship and assist them in every way possible, she added.
The company claims that it now owns the rights to 48 of 68 songs on Fleetwood Mac's most popular albums, after spending more than USD 2 billion (£1.4 billion) buying the rights to hits by artists ranging from Beyoncé to Neil Young.
The London-listed firm, with its song rights buying splurge, has capitalized on the trend of music listening amid the COVID-19 pandemic. All in all, it currently owns the rights to a portfolio of 138 catalogs, sources cited.