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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff

UK music investor Hipgnosis agrees £1.1bn takeover by Concord Chorus

Hipgnosis Concord United States Beyoncé Neil Young United Kingdom Blondie
Beyoncé
Hipgnosis Songs Fund owns the rights to songs by Beyoncé, Blondie, Neil Young and many other stars. Photograph: Chelsea Lauren/Rex/Shutterstock

The embattled British music royalties investment fund Hipgnosis, which owns the rights to songs by artists from Beyoncé to Neil Young, has agreed to a $1.4bn (£1.1bn) takeover by a music and theatrical rights rival after months of turmoil over the company’s structure and leadership.

The Concord Chorus deal, which offers Hipgnosis shareholders a 32% premium to Thursday’s share price at $1.16 a share, could put an end to uncertainty over the FTSE 250 firm’s future.

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