We use cookies and other data for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and to analyse how our Sites are used.
Add this topic to your myFT Digest for news straight to your inbox
PwC refused to reapply for the job at troubled music rights investor
Ensuring valuations are detailed, conservative and fully independent is a lesson to be learnt
Troubled company that owns song rights for artists including the Red Hot Chili Peppers must now review its options
Plus, the Hess dynasty tale and AirAsia taxis down Spac runway
Group battles to persuade investors to continue backing its status as an investment trust
Investment trust to look at all options including its management arrangements
Scrapping of interim dividend sends depressed share price to all-time low
Three’s not the magic number
Shares fall after London-listed group says dividend would have threatened compliance with debt covenants
Some investors believe the sale of music rights to a private sister fund owned by Blackstone undervalues the assets
Things we lost in the fire sale
We Can Merck It Out
Music rights company says deal in part with Blackstone-owned vehicle will fund share buyback and repayment of debt
Investment trust that pioneered song rights as an asset is under pressure from shareholders to boost valuation
Song fund has a steep and persistent valuation discount
Pop music assets pioneer is trading at less than half the $2.2bn valuation it ascribes to its portfolio
Deals have been capped by growth of low-value streaming and soaring interest rates
Plus, the ‘THG loan’ that had more to it than met the eye and inside Italy’s race to sell Monte dei Paschi
London-listed music group seeks to revive stock after run of deals end
Acquirer of song catalogues from Blondie to Neil Young says market value has fallen to half the value of its catalogues
Low interest rates made investing in song catalogues a hot trend on Wall Street. As interest rates rise, what happens now?
Investors poured billions into buying rights, turning pop songs into a new asset class — but then the economy stalled
Rapid expansion of Hipgnosis Songs Fund stalls as higher interest rates start to bite
Songs fund’s yawning discount suggests scepticism about its net asset value
Deal through Hipgnosis fund could value songs at as much as $500mn
International Edition
