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Music investment firm Hipgnosis agrees $1.4 billion sale to Concord

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Financing for the deal will be supported by Concord’s partner Apollo Capital Management, the U.S. private equity giant.

Hipgnosis snapped up song rights for high-profile artists including the Red Hot Chili Peppers, Mark Ronson, Shakira, Neil Young and Blondie.

London-listed Hipgnosis Songs Fund, the music intellectual property investment company founded by Merck Mercuriadis and Nile Rodgers in 2018, announced Thursday its board has recommended a sale to music rights investor Concord — valuing the firm at $1.4 billion.Sign up for NBC LA newsletters.

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