Metallica and track producer Michael Buble sold his rights to 43 songs after a series of sales of old catalogs by other artists.
ob Rock has sold his producer rights to Metallica’s album Metallica, as well as Buble’s Call Me Irresponsible, Crazy Love, Christmas and To Be Loved to UK investment firm Hipgnosis Songs Fund.
The deal comes shortly after songwriter and producer Ian Levine sold his rights to a series of Take That debut hits to music publisher One Media iP Group.
The deal covers royalties from Levine’s producer on tracks from the pop group’s 1992 debut album Take That & Party, including A Million Love Songs, Can It Be Magic and I Found Heaven.
In recent months, Mick Fleetwood has sold interests in his Fleetwood Mac catalog to BMG, and the Hipgnosis Songs music fund has reclaimed the rights to music from Neil Young, Blondie singer Debbie Harry and Mark Ronson, among others.
In December, Universal Music Group announced that it had acquired Bob Dylan’s entire catalog in a deal valued at hundreds of millions of dollars.
Rock first collaborated with Metallica in 1990, co-producing their eponymous heavy metal album, more commonly known as The Black Album, which included tracks Enter Sandman, The Unforgiven, Nothing Else Matters, Wherever I May Roam and Sad But True. .
Rock is also a longtime Buble collaborator and produced his album To Be Loved, as well as tracks Call Me Irresponsible, Crazy Love and Christmas.
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Merck Mercuriadis, who founded Hipgnosis, said: “The breadth of Bob Rock’s enormous success is almost impossible to match by any creator in the history of music.
“From Metallica’s most famous black album to Michael Buble’s Christmas, he’s produced some of the greatest albums of all time that continue to be timeless year after year.
“Anyone who’s worked with Bob knows he makes a difference, which is why the artists he’s produced end up making several albums with him which are almost always their biggest hits.
“Bob is very special and as a fellow Canadian. It is a pleasure to welcome him and his incredible productions to the Hipgnosis family.
Rock said, “I put my heart and soul into these recordings. I know how much Merck loves music, so it was an easy deal to make.
Separately, Hipgnosis has announced its intention to solicit shareholders for new funds to spend in a pipeline of music catalogs it has already identified.
“The pipeline catalogs contain some of the most influential and successful songs of all time, and offer substantial revenue growth opportunities through song management,” Hipgnosis said.
He has not set a target for how much money he hopes to raise, but will sell shares at 121p.