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Just a day after announcing the acquisition of production royalties from Jimmy Iovine, the Hipgnosis Songs Fund, led by Merck Mercuriadis, confirmed another major rights buyout. This time, Hipgnosis has acquired 100% of Lindsey Buckingham’s publishing rights, including her publishing share and that of the writer, on 161 songs.
These songs include an array of hits that Buckingham wrote and / or co-wrote for Fleetwood Mac, including “Go Your Own Way” and “The Chain”.
Hipgnosis previously acquired a 25% stake in Buckingham’s song catalog through its buyout of a publishing portfolio from Kobalt for $ 323 million in September (announced in November). As part of its new deal with Buckingham, announced today (January 5), Hipgnosis is also acquiring a 50% share of the unreleased compositions.
Tuesday’s news means the majority of the publishing rights to songs written by two of Fleetwood Mac’s greatest songwriters – Lindsey Buckingham and Stevie Nicks – now belong to modern, highly acquiring rights management firms. (Nicks sold 80% of its publishing rights last year to Hipgnosis rival Primary Wave for around $ 80 million.)
Merck Mercuriadis, Founder of Hipgnosis Songs Fund Limited, said: “Lindsey Buckingham is one of the greatest guitarists, songwriters and producers of all time, but he’s still so underrated. His work with Fleetwood Mac has brought the world unprecedented joy over the past 45 years and it is part of any discussion starring Brian Wilson and Paul McCartney. It’s wonderful to welcome him with his iconic songs both as a solo artist and with Fleetwood Mac in the Hipgnosis family.
Lindsey Buckingham said: “Before coming to an agreement with Hipgnosis, I had long, wonderful conversations with Merck Mercuriadis. I was delighted to find a soul mate, someone who is a huge fan of my work in Fleetwood Mac, and an even bigger fan of my solo endeavors.
“I look forward to working with Merck and the entire Hipgnosis team for the future, and I have no doubts that my work will be organized with a lot of heart and insight.”
Lindsey Buckingham was represented by directors Matt Sadie and Simon White at C3 Management, her attorney, David Altschul, of Altschul Olin & Vandergast LLP, and her commercial director, Rick Mozenter of Gelfand, Rennert & Feldman.
Lindsey Buckingham released her debut album, Buckingham Nicks, in 1973 with his then-partner Stevie Nicks. The duo then joined Mick Fleetwood, John McVie and Christine McVie as Fleetwood Mac.
Buckingham’s second album with Fleetwood Mac, Rumors, was released in 1977 and has sold over 45 million copies worldwide, making it one of the nine best-selling albums of all time. It won Album of the Year at the 1978 Grammy Awards, featuring “Go Your Own Way,” written by Buckingham, and “The Chain,” co-written by Buckingham. Buckingham also wrote “Second Hand News” and “Never Going Back Again” on Rumors. The four Buckingham songs of Rumors have collectively been streamed over a billion times on Spotify alone.
In 1979, Fleetwood Mac released the multi-platinum album Defense, whose title song was written by Buckingham. He has also written articles like “What Makes You Think You’re the One”, “Save Me A Place”, “Walk a Thin Line”, “Not That Funny” and “I Know I’m Not Wrong” on the record.
Buckingham released their first solo album, Law and order, in 1981, which included the Top 10 single Trouble. He then returned to Fleetwood Mac to record the UK, multi-platinum number one album. Mirage, which has sold over 4 million copies.
In 1987, Fleetwood Mac released Tango in the night, which has sold over 15 million copies worldwide. The LP featured four US Top 20 hits, including “Big Love,” which was written by Buckingham and reached the Top 10 in the US and UK.
In 2003, Buckingham and Fleetwood Mac released the album Say you want, which sold over 2 million copies worldwide and featured the hit single “Peacekeeper” written by Buckingham.
As a member of Fleetwood Mac, Buckingham was inducted into the Rock and Roll Hall of Fame in 1998 and, in 2011, was listed on Rolling Stone’s Top 100 Guitarists of All Time list. In addition to his work with Fleetwood Mac, Buckingham has released five solo albums including Out of the Cradle, Under the Skin, Gift of Screws and Seeds We Sow. In 2017, Buckingham and Fleetwood Mac teammate Christine McVie released UK Top 5 and Certified Silver Album, Lindsey Buckingham Christine McVie.
The UK-listed Hipgnosis Songs Fund had (or held cuts) 57,836 songs in its portfolio at the end of September 2020, while its market cap value was around $ 1.7 billion.
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