L.A. Reid Sells 100% Of His 162 Song Publishing & Writing Catalog
Veteran music executive, L.A. Reid is making headlines with some surprising news. The 64-year old record executive has reportedly sold 100% of his 162-song writing and publishing catalog to Hipgnosis Songs and its Investment adviser, The Family (Music) Limited for an undisclosed amount. In addition, L.A. Reid will also be joining the company’s Advisory Board. He will continue to run Hitco Entertainment, which he co-founded with Charles Goldstuck in 2018. Reportedly, Hipgnosis Songs has been buying catalogs from hitmakers like Timbaland, The Dream, Sean Garrett, Jack Antonoff and Jeff Bhasker. Between March 2019 and March 2020, the company spent nearly $700 million to acquire 42 catalogs. L.A. Reid’s songwriting and producing catalog includes records from, Boyz II Men, TLC, Toni Braxton, Bobby Brown, Whitney Houston, and more.
Founder of Hipgnosis Songs, Merck Mercuriadis, recently talked about the companies new business venture with L.A. Reid. He said,
“L.A. Reid has become so successful as a music executive and developer of some of the most important artists in music over the last 30 years that people often forget that he is an incomparable songwriter and the work he and Babyface did together defines R&B as we know it today. It’s a great pleasure to welcome L.A. Reid and his incredible set of songs to the Hipgnosis family.”
L.A. Reid said,
“I can’t imagine a better home for my lifetime of music and songs than Hipgnosis. Merck and his dream team truly value artists and their creative vision, and I couldn’t be more thrilled to partner with them for this exciting new chapter.”
L.A Reid co-founded LaFace Records with Kenny “Babyface” Edmonds in 1998 which generated big named artists such as, Toni Braxton, TLC, Outkast, Usher, Pink, and more. L.A. Reid has played a vital role in the music industry, but especially in the world of R&B and Hip-hop.
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