"In uncertain times such as this you are reminded of the power of great songs," says Hipgnosis founder Merck Mercuriadis about "incomparable" songwriter and guitarist.
LONDON – Music IP investment company Hipgnosis Songs has made yet another major catalog acquisition, picking up 186 songs by former Bon Jovi guitarist and co-songwriter Richie Sambora.
Financial terms were not disclosed for the deal, which sees Guernsey-registered Hipgnosis acquire Sambora's publishing and writer's share royalties of the 12 studio albums he made with Jon Bon Jovi, including 1986's Slippery When Wet, 1988's New Jersey, 2007's Lost Highway and 2013's What About Now.
According to Hipgnosis, Bon Jovi has sold more 130 million records worldwide (including compilations and live albums), making them one of the bestselling rock bands of all time. Classic hits that Sambora co-wrote with Bon Jovi include Hot 100 number ones "You Give Love a Bad Name," "I'll Be There For You," "Bad Medicine" and the triple-platinum certified "Livin' on a Prayer."