Justin Bieber sells music rights for US$200 million

POP juggernaut Justin Bieber has sold his music publishing and recording catalog shares to the Blackstone-backed Hipgnosis Songs Capital for US$200 (RM880) million, the company said yesterday – marking the industry’s latest blockbuster rights deal.

The sale has been rumoured for weeks, and sees the 28-year-old join a who’s who of artists who have cashed out recently on their catalogs.