L.A. Reid Sells Entire Music Catalogue
Music mogul L.A. Reid sold all of his 162-song writing and publishing catalog to Hipgnosis Songs Fund, the same company that also reportedly bought some of RZA and No I.D’s publishing catalog. The British Guernsey-registered music IP investment and song management company, founded by Merck Mercuriadis and co-founded by Nile Rodgers in 2018, has also appointed Reid to its advisory board.
Mercuriadis managed artists like Beyonce and Elton John before becoming an investor.
Reid expressed his excitement about the decision.
“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,” Reid said about the decision.
The 64-year-old’s broad catalog contains Whitney Houston, Bobby Brown, TLC, Boyz II Men, Rihanna and many more.
“Coming 2 America” is Headed to Amazon Prime
The long-awaited sequel to the classic, 1988 comedy, “Coming to America” will be premiering on Amazon Prime on December 18. Eddie Murphy, who produced and will star in “Coming 2 America,” is also in the process of approving two consumer marketing tie-ins with McDonalds and whiskey brand Crown Royal.
The sale from distributor Paramount Pictures to Amazon Studios reportedly cost roughly $125 million.
The sequel will portray Murphy once again as Prince Akeem. The prince is set to become king of the fictional country of Zamunda when he discovers that he has a son he never knew about in America — a street-savvy Queens native named Lavelle. He then sets off to America to honor the former king’s dying wish to groom his grandson as the crown prince. The film also stars Jermaine Fowler and the supporting cast includes Tracy Morgan, Leslie Jones, Arsenio Hall and Wesley Snipes.