The music mogul who acquired the back catalogues of stars from Beyoncé to Red Hot Chili Peppers and vowed to turn song royalties into an investment as dependable as gold faces eviction from his own company in a boardroom coup.
Merck Mercuriadis, a former manager of acts including Elton John, Iron Maiden, Guns N’ Roses and Beyoncé, set up London-listed Hipgnosis Songs Fund in 2018 with the pitch that the royalties of “evergreen” hits from famous artists were underexploited and ripe for canny investors to cash-in on amid the streaming revolution.
