Justin Bieber sells music rights for $200 mn

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AFP

New York (AFP) – Pop juggernaut Justin Bieber has sold his music publishing and recording catalog shares to the Blackstone-backed Hipgnosis Songs Capital for $200 million, the company said Tuesday — marking the industry’s latest blockbuster rights deal. The sale has been rumored for weeks, and sees the 28-year-old join a who’s who of artists who have cashed out recently on their catalogs. Hipgnosis did not publicly disclose terms of the deal, but a source close to the matter told AFP it was worth around $200 million. Contemporary stars including Justin Timberlake and Shakira have sold large s…

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