Just a day after announcing the acquisition of Jimmy Iovine’s production royalties, the Hipgnosis Songs Fund, led by Merck Mercuriadis, confirmed yet another major purchase of rights. This time, Hipgnosis acquired 100 percent of Lindsey Buckingham’s publishing rights, including both its publication and the writer’s share of 161 songs.
These songs include a series of hits that Buckingham wrote and / or co-wrote for Fleetwood Mac, including “Go Your Own Way” and “The Chain”.
Hipgnosis previously acquired a 25 percent stake in Buckingham’s song catalog through the purchase of a Kobalt publishing portfolio for $ 323 million in September (announced in November). As part of its new deal with Buckingham, announced today (January 5), Hipgnosis also acquires a 50% stake in all new compositions.
Tuesday’s news means that most song publishing rights written by two of Fleetwood Mac’s greatest composers – Lindsey Buckingham and Stevie Nicks – are now owned by modern, highly acquisitive rights management companies. (Nicks sold 80 percent of its publishing rights last year to Hipgnosis’ rival, Primary Wave, for about $ 80 million.)
Merck Mercuriadis, founder of Hipgnosis Songs Fund Limited, said: “Lindsey Buckingham is one of the greatest guitarists, songwriters and producers of all time, but he is still so underrated. His work with Fleetwood Mac has brought unparalleled joy to the world for the past 45 years and he belongs in any discussion of Brian Wilson and Paul McCartney. It is wonderful to welcome you and your iconic songs as a solo artist and with Fleetwood Mac for the Hipgnosis family. “
Lindsey Buckingham said: “Before reaching an agreement with Hipgnosis, I had wonderful long conversations with Merck Mercuriadis. I had the pleasure of meeting a soul mate, someone who is a big fan of my work at Fleetwood Mac and an even bigger fan of my solo efforts.
“I look forward to working with Merck and the entire Hipgnosis team in the future, and I am confident that my body of work will be healed with a big heart and vision.”
Lindsey Buckingham was represented by managers Matt Sadie and Simon White at C3 Management, his attorney, David Altschul, of Altschul Olin & Vandergast LLP, and his business manager, Rick Mozenter at Gelfand, Rennert & Feldman.
Lindsey Buckingham released her first album, Buckingham Nicks, in 1973 with his then partner, Stevie Nicks. The pair later joined Mick Fleetwood, John McVie and Christine McVie as Fleetwood Mac.
Buckingham’s second album with Fleetwood Mac, Rumors, was released in 1977 and sold over 45 million copies worldwide, making it one of the nine best selling albums of all time. He won the Album of the Year at the 1978 Grammy Awards, containing “Go Your Own Way”, written by Buckingham, and “The Chain”, co-written by Buckingham. Buckingham also wrote “Second Hand News” and “Never Going Back Again” on Rumors. Buckingham’s four songs from Rumors have been broadcast collectively over 1 billion times on Spotify alone.
In 1979, Fleetwood Mac released the multi-platinum album Fanged, whose title track was written by Buckingham. He also wrote “What makes you think you’re the only one”, “Save me a place”, “Walk a Thin Line”, “Not That Funny” and “I Know I’m Not Wrong” on the record.
Buckingham released his first solo album, Law and order, in 1981, which included the Top 10 single Trouble. He then returned to Fleetwood Mac to record the UK’s number one multi-platinum album. Mirage, which sold more than 4 million copies.
In 1987, Fleetwood Mac launched Tango at night, which sold more than 15 million copies worldwide. The LP featured four US Top 20 hits, including “Big Love”, which was written by Buckingham and reached the Top 10 in the United States and the United Kingdom
In 2003, Buckingham and Fleetwood Mac released the album Say you will, who sold over 2 million copies worldwide and presented the single “Peacekeeper” written by Buckingham.
As a member of Fleetwood Mac, Buckingham was included in the Rock and Roll Hall of Fame in 1998 and in 2011 was listed on Rolling Stone’s list of the 100 greatest guitarists of all time. In addition to his work with Fleetwood Mac, Buckingham has released five solo albums, including Out of the Cradle, Under the Skin, Gift of Screws and Seeds We Sow. In 2017, Buckingham and his bandmate Fleetwood Mac, Christine McVie, released the UK’s Top 5 and certified silver album, Lindsey Buckingham Christine McVie.
The UK-listed Hipgnosis Songs Fund had (or had cuts) 57,836 songs in its portfolio at the end of September 2020, when its market capitalization value was around $ 1.7 billion.