On at about 07:25:13 AM, Justin Timberlake Has Sold His Entire Song Catalog For An Undisclosed Amount was updated.
Since 2011, Hipgnosis Song Management has spent more than $2 billion purchasing the libraries of a number of high-profile musicians, including Justin Timberlake.
As of Thursday, Hipgnosis, a Blackstone-backed investment vehicle, has seized full ownership of Timberlake's stake as well as his whole writer and publisher's portion of public performance revenue, according to the Wall Street Journal. Deal includes copyr!ghts to popular tunes including "My Love," "Cry Me A River," "What Goes 'Round... Comes 'Round," and more. It is estimated to be worth well over $100 million. Some of *NSYNC's favorites, such as "Merry Christmas, Happy Holidays," "Pop," "Celebrity," "Gone," "I'll Be Good To You," and "See Right Through You," have Timberlake named as a co-writer as well.
As part of his deal with Universal Music, Hipgnosis will also be responsible for overseeing the international administration of the works. The agreement's fine print was kept under wraps.
Merck and Hipgnosis have been a long-time supporter of songwriters, and I'm pleased to be working with them on this new project," Timberlake said in a release. "I am eager to begin this new chapter in my life."
There are many reasons why Justin Timberlake is a wonderful composer, but he's also one of the most influential musicians of the past 20 years.... He's one of the best." For Justin, Rick, David, and myself, this agreement has been a labor of passion, so I'm happy to welcome them all into the Hipgnosis Family."
By signing a deal with BMG, Justin Timberlake joins the ranks of other artists who have surrendered their entire catalogs and the rights to their images and likenesses to the record label.
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