LONDON (CelebrityAccess) — Rock legend Sir Rod Stewart has reportedly ended negotiations to sell his song catalog to Hipgnosis Songs.
According to Music Week, Stewart called off negotiations for the sale of his rights to his songs after almost two years of negotiations after apparently failing to reach an accord.
In a statement provided to Music Week, Stewart said: “This catalogue represents my life’s work, and it became abundantly clear after much time and due diligence that this was not the right company to manage my song catalogue, career or legacy.”
A two-time Rock & Roll Hall of Fame inductee (as a solo artist and with his band, Faces), Stewart has sold more than 250 million records worldwide, with hit albums such as Blondes Have More Fun, Vagabond Heart, and Foot Loose & Fancy Free.
Hipgnosis, which was founded in 2018 by Merck Mercuriadis, has become one of the leading acquisition specialists of music catalog for investors. Recent high-profile acquisitions include Justin Bieber, Lindsey Buckingham, Jimmy Iovine, and Shakira, among others.
Hipgnosis did not immediately respond to a request for comment.
