Neil Young sells 50% stake of his catalog to Hipgnosis for "around $150 million"

Neil Young has sold 50 percent of the worldwide copyright and income interests in his 1,180 song catalogue to the U.K. investment firm Hipgnosis Songs, Variety reports. This deal includes both 50% of the publisher's share and 50% of the writer’s share in Young’s music, spanning his work with Buffalo Springfield, Crosby, Stills, Nash & Young and Crazy Horse, in addition to the singer/songwriter’s full solo catalog. Industry experts Music Business Worldwide consulted suggest that the deal would have cost Hipgnosis in the region of $150m. Hipgnosis's Merck Mercuriadis told Rolling Stone "there will never be a ‘Burger of Gold’", since Young has never licensed his music for commercials.