Red Hot Chili Peppers sell rights to catalogue of hits to Hipgnosis
by Mark Sweney from US news | The Guardian on (#5HDGW)
Trend of artists selling rights continues, as Kid Creole and the Coconuts also sign deal
Red Hot Chili Peppers and Kid Creole and the Coconuts have become the latest artists to cash in on their catalogue of hits, selling the rights to songs including Californication and Annie I'm Not Your Daddy to London-listed music royalties investment firms.
The Chili Peppers are poised to sell their publishing rights to London-listed music investment firm Hipgnosis, reportedly for more than $140m (101m).
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