Hipgnosis agrees music catalogue deal with Eurythmics’ Dave Stewart

Songs fund Hipgnosis on Friday bought a major music catalogue from Eurythmics’ star Dave Stewart.

The deal is for 100% of Stewart’s copyright interest in a catalogue of 1068 songs including hits such as Sweet Dreams (Are Made of This) and There Must Be An Angel (Playing With My Heart), which he performed with singer Annie Lennox.

Stewart also joins the Hipgnosis advisory board.

Hipgnosis was founded by Merck Mercuriadis, former manager of Guns N’ Roses and Morrissey.

Mercuriadis said: “I'm not generally one for puns but sweet dreams are literally made of this." He praised the work Stewart and Lennox did together.

Stewart said: “He [ Mercuriadis] sees his company more like a song management company unlike many publishers who act more like a collection agency and wait for the money to pour in. I'm excited to be on the advisory board of this forward thinking company and am sure we will have great success together."