Beyonce and Shakira song fund Hipgnosis agrees $1.4 billion sale to Concord
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The music catalogs of Shakira, Neil Young, and others just sold to a Nashville-based company for $1.4 billion
Nashville-based independent music company Concord has agreed to buy Britain’s Hipgnosis Songs Fund for $1.4 billion, the companies said on Thursday, to gain rights to the catalogues of artists including Shakira and Neil Young. Hipgnosis, a music rights investment company founded by industry veteran and former CEO Merck Mercuriadis, launched a strategic review last year after a shareholder revolt led to a board overhaul, a portfolio revaluation, and a dispute with its investment adviser over a...
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Pay hikes for city workers will add $1 billion to L.A.'s yearly budget by 2028, report says
Earlier this year, Los Angeles Mayor Karen Bass negotiated a package of raises and increased benefits for tens of thousands of city workers — money aimed at addressing the rising cost of food, housing and other household expenses. On Friday, the public got its first glimpse of the price tag for those employee contracts. City Administrative Officer Matt Szabo, in a 40-page analysis, said the planned salary agreements with the city's civilian employee unions would add $316 million to the city...