Neil Young is the latest artist to sell part of his publishing.
Hipgnosis Songs bought 50-percent of Young's catalog of 1,180 songs but leaves Young with approval where songs can be placed.
The terms of the purchase have not been disclosed, which has lead to a wide range of estimates of how much Young is making. estimates the catalog is valued between $90 and $105-million, giving Young somewhere between $45 and $52-million.reports that it's approximately $50-million, but quotes a second source disputing that number. And the BBC says Hipgnosis spent an estimated $150-million for the purchase.
This is the third big acquisition of the week for Hipgnosis, which also bought the publishing catalogs Lindsey Buckingham and producer/record executive Jimmy Iovine. Hipgnosis also owns songs by Journey, Nikki Sixx and Chrissie Hynde.