The Merck Mercuriadis-led London based acquisitive rights company Hipgnosis Songs Fund Limited has acquired the music catalog of Richie Sambora – a guitarist, singer, songwriter and producer most notably known as a member of Bon Jovi.
Hipgnosis has acquired 100% of Richie Sambora’s publishing and writer’s share royalties in his catalog, which comprises 186 songs.
The news of the acquisition of Sambora’s catalog comes a couple of weeks after Hipgnosis Songs Fund was added as a constituent of the prestigious FTSE 250 Index.
Hipgnosis, which floated on the London Stock Exchange in 2018, has seen its share price withstand the pressures from Coronavirus on the stock market in recent weeks.
With Bon Jovi, Sambora released 12 studio albums, five compilations and two live albums, selling more than 130 million records worldwide.
Sambora has also co-written four US No.1 Pop singles and one Country No1.
In total he has had six US Top 5 songs and 10 US Top 10 songs as well as five UK Top 5 songs and 18 UK Top 10 songs.
Bon Jovi are one of the most successful rock bands of the last 35 years, rising to global stardom with their 1986 album Slippery When Wet , which sold over 28 million copies going on to be certified 12x platinum in the US and included the No.1 singles You Give Love a Bad Name and the triple platinum certified Livin’ on a Prayer.
Following the success of Slippery When Wet, Richie Sambora went on to release nine further No.1 or platinum certified albums with Bon Jovi including the US and UK No.1 New Jersey, which has sold over 15m copies worldwide and included the No.1 songs Bad Medicine and I’ll Be There For You; the US double platinum certified albums Keep the Faith and Crush; the US platinum certified albums These Days, Have a Nice day and Lost Highway; and the US No.1 albums The Circle and What about Now.
In addition to his hit songs for Bon Jovi, Sambora released three solo albums which have sold more than 2m copies worldwide; penned No.1 country songs for Jennifer Nettles and Leann Rimes; and co-wrote Cher’s 1987 platinum certified comeback album Cher as well as its 1989 follow up Heart Of Stone, which has sold more than 4m copies.
Sambora and Jon Bon Jovi were inducted into the Songwriters Hall of Fame in 2009 and the Rock and Roll Hall of Fame in 2018.
The band received the Award of Merit at the American Music Awards in 2004 and have been nominated for more than 50 awards all over the world including 10 Grammy Awards.
Richie Sambora was represented in the sale by his longtime lawyer Michael Guido at Carroll, Guido & Groffman Cohen Bar & Karalian, LLP.
“In uncertain times such as this you are reminded of the power of great songs and great music and amongst the greatest set of songs of the last 35 years are the incomparable songs Richie Sambora co-wrote for Bon Jovi and other great artists.”
Merck Mercuriadis, Hipgnosis (pictured main)
Merck Mercuriadis, Founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited, said: “In uncertain times such as this you are reminded of the power of great songs and great music and amongst the greatest set of songs of the last 35 years are the incomparable songs Richie Sambora co-wrote for Bon Jovi and other great artists.
“He’s a musician’s musician and a songwriter’s songwriter and is one of the very precious few that is an inductee of both the Songwriters Hall of Fame and the Rock and Roll Hall of Fame.
“I am delighted to welcome Richie to the Hipgnosis family and look forward to working closely with him for many years to come on this elite set of songs.”
“These songs are very important to me and I feel very strongly that Merck is the only person I could have entrusted my babies to.”
Richie Sambora said: “I’m very privileged to have had the incredible success I have achieved as a songwriter and artist to date.
“These songs are very important to me and I feel very strongly that Merck is the only person I could have entrusted my babies to.
“I believe the work he is doing that has transformed the way that the world looks at the power of great songs and the songwriting community is very special.
“I look forward to working with him and his Hipgnosis team to deliver more success for all of us.”
In January Hipgnosis acquired a music catalog from triple Ivor Novello award winning British songwriter and producer, Brian Higgins.
The company also confirmed the acquisition of a music catalog from hit songwriter Ammar Malik.Music Business Worldwide