RED HOT CHILI PEPPERS Sell Catalog To Hipgnosis For $140 Million
May 4, 2021, 3 years ago
Red Hot Chili Peppers are selling their publishing rights to Merck Mercuriadis’s Hipgnosis Songs Fund for around $140 million, a source close to the situation tells Rolling Stone. The transaction marks the latest catalog sale from a major legacy artist and one of the highest profile acquisitions to date for Mercuriadis.
The deal was first reported by Billboard on Monday evening and confirmed by Rolling Stone.
The Chili Peppers have one of the best-selling catalogs in music with hits including “Californication,” “Otherside,” “Under The Bridge” and “Scar Tissue.” Much of the catalog was written by Flea, Anthony Kiedis, John Frusciante and Chad Smith. Mercuriadis bought from the band collectively, the source says.
A representative for Hipgnosis declined to comment, while the Chili Peppers’ attorney Eric Greenspan - managing partner of Myman, Greenspan, Fox, Rosenberg, Mobasser, Younger & Light, LLP - didn’t immediately respond to a request for comment.
