Citrin Cooperman reduces royalties windfall estimate for Hipgnosis Songs Fund by 54%

This morning (October 16), UK-listed Hipgnosis Songs Fund informed its shareholders that Citrin Cooperman had now “materially reduced its expectations of industry-wide retroactive payments in relation to the US Copyright Royalty Board’s decision in relation to royalties payable to songwriters for the period covering 2018-2022 (‘CRB III’) for its valuation of [HSF’s] portfolio.”

Source: Citrin Cooperman reduces CRB III royalties windfall estimate for Hipgnosis Songs Fund by $11.8m, causing HSF board to halt October’s interim dividend