Beyoncé and Blondie song fund Hipgnosis delays results amid valuation concerns

Company says songs have been assessed as worth more by independent valuer than recent transactions in the sector

The woes of Hipgnosis Songs Fund, which owns the streaming rights to artists ranging from Beyonce to Neil Young, have deepened, as it delayed the publication of its half-year results at the last minute.

Hipgnosis said it was postponing its results because the company valuation by its independent valuer was materially higher" than the valuation implied by proposed and recent transactions in the sector, in particular its recent sale of song rights at a steep discount.