Hipgnosis strategic review could lead to ousting of founder Merck Mercuriadis

Beyonce and Neil Young rights owner says it is not exploring sale despite financial woes

• Dividend shocker shows need for robust governance at Hipgnosis

The struggling music royalties business Hipgnosis has launched a strategic review that could lead to the ousting of its founder, Merck Mercuriadis, the former manager of acts including Elton John, Iron Maiden, Guns N' Roses and Beyonce.

London-listed Hipgnosis Songs Fund, which is managed by Mercuriadis and overseen by an independent board of directors, said its review was designed to create value for its investors, but will not include exploring a sale of the 900m company.