Metallica and Michael Buble producer sells rights to classic songs
After a series of back catalog purchases from other artists, the creators of tracks by Metallica and Michael Buble sold his rights to 43 albums.
Bob Rock sold his producer's rights for Metallica's album Metallica, and Buble's Call Me Reckless, Mad Love, Christmas and To Be Loved to Hipgnosis Songs Fund, the UK investment firm.
The deal is only after Ian Levine, a songwriter and artist, has sold a series of early hits by Take It to the One Media iP Group music publisher.
Michael Buble (Isabel Infantes / Palestinian Authority)
The contract includes Levine's producer royalties for tracks from the 1992 Take That&Party debut album of the pop group, plus A Million Love Songs, May It Be Magic and I Found Paradise.
Recently, in his Fleetwood Mac back catalog, Mick Fleetwood sold interest to BMG and Hipgnosis Songs music fund snapped the right of music, such as Neil Young, Blondie singer Debbie Harry, and Mark Ronson.
Universal Music Company revealed in December that it has bought the full back catalog of Bob Dylan in a transaction worth hundreds of millions of dollars.
In 1990, Rock co-produced their self-titled heavy metal album, most frequently called The Black Album, which includes Enter Sandman, The Unforgiven, Nothing Else Matters, Anywhere I May Wander and Sad Yet Real.
(Ian West/PA) Take the
Rock is also a long-standing collaborator of Buble and has produced his album To Be Cherished and Call Me Reckless, Mad Love and Christmas.
"The breadth of Bob Rock's tremendous successes is almost impossible to match any artist's in the history of music," said Merck Mercuriadis, the founder of Hipgnosis.
"From Metallica's most popular Black Album to Christmas Michael Buble, it's produced some of the best evergreen albums year after year.
"Everyone who has been with Bob knows he is a differentiator, so the bands he made end up making many records with him that are almost always their greatest success.
"Bob is really unique and a Canadian fellow.
It is a joy to welcome the Hipgnosis family to him and his amazing productions."
Gareth Fuller (PA) Bob Dylan
Rock said, "In these tapes, I put my heart and soul.
I know how much Merck likes music, so it's been a quick deal to make."
Hipgnosis reported simultaneously that it plans to tap shareholders for extra funds to invest on a library pipeline of music that it has already established.
"The pipeline catalogs contain some of the most influential and successful songs of all time and offer significant opportunities for revenue growth through song management," said Hipgnosis.
It did not target how much money it aims to collect, but it will sell 121 pp shares.