Hipgnosis Songs Fund Ltd. continues its acquisition binge by acquiring the Kobalt Music Copyrights Fund 1. In total, the 42 catalogs comprise over 33,000 songs written by over 1,500 songwriters. Hipgnosis Songs says it is paying $323 million and funding the acquisition through a combination of equity and borrowings from its recently expanded revolving credit facility.
Source: Hipgnosis Songs Buys Kobalt Music Catalog: 33,000 Songs for $323 Million