Merck Mercuriadis wants to raise a billion dollars. And then he wants to change the face of the music business.

Last month, Mercuriadis – the manager of Nile Rodgers, and the former manager of Morrissey, Guns & Roses and Elton John – successfully raised £200m ($265m) for an acquisitive, publicly traded new music venture. Hipgnosis Songs Fund Ltd (HSFL) is now live on the London Stock Exchange – following its IPO last week – and is hungry for blockbuster song catalogs.

Source: Merck Mercuriadis wants to raise a billion dollars. And then he wants to change the face of the music business.