Justin Timberlake arrives on the red carpet at the 2019 Songwriters Hall of Fame on June 13, 2019, at The New York Marriott Marquis in New York City. File Photo by John Angelillo/UPI | License Photo
May 26 (UPI) -- Justin Timberlake sold his entire music catalog to Blackstone-backed Hipgnosis Song Management on Thursday, joining the wave of recent mega stars who have sold the rights to their songs for millions of dollars.
Hipgnosis CEO Merck Mercuriadis announced the purchase of all the Grammy-winning singer's copyrights on tracks he wrote or co-wrote -- a total of about 200 songs, including No. 1 hits "SexyBack," "Can't Stop the Feeling" and "Mirrors."
The Wall Street Journal reported that the agreement was worth more than $100 million.
"Justin Timberlake is not only one of the most influential artists of the last 20 years but he's also one of the greatest songwriters of all time," Mercuriadis said in a statement. "His hit songs including 'Cry Me A River,' 'Rock Your Body,' 'SexyBack,' 'My Love,' 'What Goes Around... Comes Around,' 'Suit & Tie,' 'Mirrors,' and 'Can't Stop The Feeling' are amongst the most iconic of the period.
"Putting this deal together has been a complete labor of love for Justin, Rick [Yorn], David [Lande] and myself and I'm delighted to welcome them all to the Hipgnosis Family. This is the beginning of what we believe will be an incredible relationship important to us all."
The sale took more than a year to finalize, according to Mercuriadis, and is part of a rising trend of stars selling their music catalogs -- including Bob Dylan, Bruce Springsteen, Stevie Nicks and Neil Young.
The 41-year-old Timberlake, however, is younger than most of the other musical icons signing those deals. Other artists who have made deals with Hipgnosis include the Red Hot Chili Peppers, Journey and Blondie.
The purchase of Timberlake's discography was made on behalf of Hipgnosis Songs Capital, a $1 billion partnership between Hipgnosis Song Management and funds managed by private equity firm Blackstone.
"I am excited to be partnering with Merck and Hipgnosis -- he values artists and their creative work and has always been a strong supporter of songwriters and storytelling," Timberlake said. "I look forward to entering this next chapter."
Timberlake's expansive music collection spans more than 20 years. The singer discovered fame in 1995 as a member of NSYNC, later launching a solo career that has included five studio albums and 40 singles.