L.A Reid has sold 100% of publishing interests and writer’s share of income in his music catalog, comprising 162 songs, to Hipgnosis Songs Fund.
In addition, Reid is joining the Advisory Board of The Family (Music) Limited – the related company established by Merck Mercuriadis and Nile Rodgers to locate potential acquisition targets for Hipgnosis in the music industry.
Reid continues to run Hitco Entertainment, which he co-founded with Charles Goldstuck in 2018. Hitco artist Saint JHN released global hit ROSES earlier this year; other Hitco artists include Jennifer Lopez, OutKast’s Big Boi, The-Dream, Delacey, Yella Breezy and Dixie D’Amelio.
As a Grammy-winning songwriter and producer, Reid worked with the likes of Whitney Houston, collaborating on her No. 1 hit single I’m Your Baby Tonight and co-writing and producing Queen of the Night for The Bodyguard soundtrack album. The Bodyguard soundtrack sold over 45 million copies worldwide.
Reid also enjoyed songwriting and production success with Boyz II Men, including End of the Road, which topped the US singles chart for 13 consecutive weeks, won two Grammy Awards, and became Billboard’s biggest song of 1992.
Merck Mercuriadis, Founder of Hipgnosis Songs Fund Limited and The Family (Music) Limited said: “L.A. Reid has become so successful as a music executive and developer of some of the most important artists in music over the last 30 years that people often forget that he is an incomparable songwriter and the work he and Babyface did together defines R&B as we know it today.
“It’s a great pleasure to welcome L.A. Reid and his incredible set of songs to the Hipgnosis family.”
L.A. Reid said: “I can’t imagine a better home for my lifetime of music and songs than Hipgnosis. Merck and his dream team truly value artists and their creative vision, and I couldn’t be more thrilled to partner with them for this exciting new chapter.”