Metallica and track producer Michael Buble has sold his rights to 43 songs after a series of sales of old catalogs from other artists.
ob Rock has sold his producer rights for Metallica’s album Metallica, as well as Buble’s Call Me Irresponsible, Crazy Love, Christmas and To Be Loved to UK investment firm Hipgnosis Songs Fund.
The deal comes shortly after songwriter and producer Ian Levine sold his rights to a string of early Take That hits to music publisher One Media iP Group.
The deal covers Levine’s producer royalties on tracks from the pop group’s 1992 debut album Take That & Party, including A Million Love Songs, Could It Be Magic and I Found Heaven.
In recent months, Mick Fleetwood has sold interests in his Fleetwood Mac catalog to BMG, and music fund Hipgnosis Songs has acquired the rights to music by Neil Young, Blondie singer Debbie Harry and Mark Ronson, among others.
In December, Universal Music Group announced that it had acquired Bob Dylan’s entire back catalog in a deal believed to be worth hundreds of millions of dollars.
Rock first collaborated with Metallica in 1990, co-producing their self-titled heavy metal album, more commonly known as The Black Album, which includes tracks Enter Sandman, The Unforgiven, Nothing Else Matters, Wherever I May Roam and Sad But True. .
Rock is also a longtime collaborator with Buble, and produced his album To Be Loved, as well as the titles Call Me Irresponsible, Crazy Love and Christmas.
Merck Mercuriadis, who founded Hipgnosis, said, “The sheer scale of Bob Rock’s enormous successes is almost impossible to match by any creator in the history of music.
“From Metallica’s most famous black album to Michael Buble’s Christmas, he produced some of the greatest albums of all time that continue to hold sway year after year.
“Anyone who has worked with Bob knows he makes a difference, which is why the artists he produced end up making multiple albums with him that are almost always their biggest hits.
“Bob is very special and as a fellow Canadian. It is a pleasure to welcome him and his incredible productions to the Hipgnosis family.
Rock said, “I put my heart and soul into these recordings. I know how much Merck loves music, so it was an easy deal to put together.
Separately, Hipgnosis announced plans to tap into shareholders for new funds to spend on a pipeline of music catalogs it has already identified.
“Pipeline catalogs contain some of the most influential and successful songs of all time, and offer substantial revenue growth opportunities through song management,” Hipgnosis said.
He hasn’t set a target for how much money he hopes to raise, but will sell shares at 121p.