An interesting music business-related tidbit is circulating today regarding pop star Justin Bieber being near to closing a $200 million deal on his music rights.
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After being just rumors first reported on Wednesday by the Wall Street Journal, it seems as though Bieber's deal with Blackstone-backed Hipgnosis Songs Capital, while not yet done, is close to being completed.
If all goes well, Hipgnosis, the same company that reportedly bought the rights to Justin Timberlake's catalog earlier this year to the tune of $100 million, will own Bieber’s shares of his publishing and recorded music catalog, which will, however, continue to be administered and owned by Universal. Nevertheless, should the deal go through, it will go down as the largest music-rights acquisition in the company's history.
Stay tuned as the story develops.