With so many artists fighting to own their masters, L.A. Reid has sold 100 % of his 162 song publishing and writings.
According to Variety, Reid sold the publishings catalog to Hipgnosis Songs and its Investment adviser, The Family (Music) Limited for an undisclosed amount. This comes as the company appointed Reid to its advisory board.
Reid co-founded LaFace Records with Babyface in 1998. The label launched the careers of artists like Outkast, Toni Braxton, Usher, Pink, and more. Reid’s catalog includes hit records from Whitney Houston, TLC, Boyz II Men, etc.
“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 of the deal.
Reid is not the only one who sold their catalogs to Hipgnosis, The-Dream, RZA, and No I.D also sold their catalog to them as well.