Concord, a music rights company, agreed to acquire Hipgnosis Songs Fund, a British music IP investment and song management company, for $1.58bn. "We are pleased to be announcing this Offer for Hipgnosis, which has been unanimously recommended by its Board and has the support of 29.38 per cent. of their shareholders. We believe we are offering a fair price for Hipgnosis' catalogues and music assets, giving its shareholders the opportunity to realise their investment at a significant premium to the prevailing share price in cash," Bob Valentine, Concord Chorus CEO. On June 3, 2024, Blackstone raised its offer by a cent to $1.31 per share, valuing the transaction at $1.58bn.