Justin Timberlake Sells His Music Catalog in Deal Worth a Reported $100 Million
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Justin Timberlake has become the latest musician to sell his music catalog.
The Grammy winner, 41, made a deal with Hipgnosis Song Management — a company backed by private-equity firm Blackstone.
The agreement includes copyrights of approximately 200 songs that Timberlake wrote or co-wrote. The private equity firm will have the musician's hit songs including "SexyBack," "Can't Stop the Feeling" and "Mirrors" under their control.
Though the financial terms of the deal were not disclosed, it's estimated to be worth just over $100 million, people familiar with the matter told The Wall Street Journal.
"Justin Timberlake is not only one of the most influential artists of the last 20 years but he's also one of the greatest songwriters of all time," said Merck Mercuriadis, founder and CEO of Hipgnosis Song Management, in a press release. "His hit songs including 'Cry Me A River,' 'Rock Your Body,' 'SexyBack,' 'My Love,' 'What Goes Around… Comes Around,' 'Suit & Tie,' 'Mirrors' and 'Can't Stop The Feeling' are amongst the most iconic of the period."
"Putting this deal together has been a complete labor of love," he added. "I'm delighted to welcome them all to the Hipgnosis Family. This is the beginning of what we believe will be an incredible relationship important to us all."
Timberlake also shared that he was looking forward to "entering this next chapter" of his career.
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"I am excited to be partnering with Merck and Hipgnosis," Timberlake said in a statement. "He [Mercuriadis] values artists and their creative work and has always been a strong supporter of songwriters and storytelling."
Timberlake's music career spans over 20 years. The singer rose to fame as a member of *NSYNC — which includes Lance Bass, Joey Fatone, JC Chasez and Chris Kirkpatrick. He later left the group and launched a solo career that includes five studio albums and 40 singles.
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Timberlake joins a growing list of stars including Sting, Bruce Springsteen and Bob Dylan to part with their music catalogs.
