What's happened
Hipgnosis Songs Fund postpones half-year results due to disagreement over valuation of music catalogues
Why it matters
The delay in publishing the financial results of Hipgnosis Songs Fund, a troubled music investment company, reflects ongoing uncertainty and disagreement over the valuation of its music catalogues, which is significant given the company's strategic review and recent shareholder revolt.
What the papers say
The Times reports on the deepening dispute between the board and its investment adviser, The Independent highlights the concerns over the valuation of music catalogues, and The Guardian emphasizes the delay in the publication of the half-year results due to the disagreement over valuation.
How we got here
The company has been in the midst of a strategic review after a shareholder revolt over its governance in October, and the disagreement over valuation has led to the postponement of its financial results.
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Hipgnosis was an English art design group based in London that specialised in creating cover art for the albums of rock musicians and bands. Notable commissions included work for Pink Floyd, T.
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Hipgnosis Songs Fund is a British Guernsey-registered music IP investment and song management company founded by Merck Mercuriadis and Nile Rodgers in 2018.