Blackstone Raises Bid to $1.5 Billion for Hipgnosis Songs Fund, Outbidding Concord

The escalating bidding war reflects the high stakes in the music royalty market, as Blackstone seeks to consolidate its control.

Blackstone's latest offer of $1.5 billion surpasses Concord's $1.4 billion bid, intensifying the battle for the Hipgnosis Songs Fund.
The offer represents a significant premium over previous bids, highlighting the value placed on the music catalogs of artists like Neil Young and Shakira.
Hipgnosis Songs Fund has faced shareholder unrest and financial instability, prompting a strategic review and heightened interest from major investors.
Blackstone already owns parts of Hipgnosis, aiming to solidify its holdings amidst a broader industry trend of high-value music catalog acquisitions.
The deal is still pending approval, with Blackstone urging the Hipgnosis board to expedite a unanimously recommended firm offer.