Hipgnosis Song Management Ltd - London-based music investment company - Says Merck Mercuriadis, founder and chair intends to step down. His departure will be effective upon closing of the proposed acquisition by Lyra Bidco Ltd, owned by Blackstone-managed funds. Mercuriadis says: ‘Six years after founding HSM, I have decided that now is the right time for me to step back from my role as [chair]. This is a timely opportunity for me to undertake a strategic shift of focus, and to spend more time advocating on behalf of songwriters to ensure that they are properly compensated for their work.’

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