The board of the Hipgnosis Songs Fund says it has been unable to find a better offer for the collection of hits it agreed to sell to a sister fund for $440 million (£359 million), as a crucial vote on its future approaches.
The fund known for buying up the rights to pop stars’ work last month revealed plans to offload songs by artists such as Nelly, Rick James and Shakira to another fund, owned by Blackstone and managed by a team led by Hipgnosis founder Merck Mercuriadis.
