Neil Young sells 50 percent of publishing rights to his entire song catalog to investment fund

Legendary folk rocker Neil Young has sold 50 percent of his song catalog to the Hipgnosis Songs Fund, a U.K. investment vehicle founded by music industry veteran Merck Mercuriadis.

“I bought my first Neil Young album aged 7. ‘Harvest’ was my companion and I know every note, every word, every pause and silence intimately,” former talent manager Mercuriadis said in a statement Wednesday. It has also invested in the rights to songs from artists such as Mark Ronson, Chic, Barry Manilow and Blondie.

“I built Hipgnosis to be a company Neil would want to be a part of. We have a common integrity, ethos and passion born out of a belief in music and these important songs,” he said.

Another Canadian legend

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Neil Young sells 50% of publishing rights to his entire song catalog to UK investment fundLegendary folk rocker Neil Young has sold 50% of his song catalog to the Hipgnosis Songs Fund. Old man take a look at your piles of money 'Ain't playing for Pepsi Ain't playing for Coke But I AM now playing for a UK investment fund'
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