L.A Reid has sold 100% of publishing interests and writer’s share of income in his music catalog, comprising 162 songs, to Hipgnosis Songs Fund. In addition, Reid is joining the Advisory Board of The Family (Music) Limited – the related company established by Merck Mercuriadis and Nile Rodgers to locate potential acquisition targets for Hipgnosis in the music industry.
Source: L.A Reid sells his catalog to Hipgnosis, joins Advisory Board of Merck Mercuriadis’ related company