L.A. Reid sells off 100 per cent of future royalties

L.A. Reid has sold off 100 per cent of his publishing interests and writer’s share of income on the entirety of his 162-song catalogue.
The producer, songwriter and executive is the latest artist to sell the rights to his future royalties to the Hipgnosis Song Fund, which purchased them for an undisclosed sum. Reid has also been appointed to its advisory board.
The fund was founded by music industry veteran Merck Mercuriadis, who before becoming an investor managed artists including Beyonc