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London-listed Hipgnosis did not disclose the
size of the deal in its announcement on Thursday, although it
has said the year had got off to its "strongest start ever".
COVID-19 has prompted musicians to monetise their older work by
selling tracks and albums as the global health crisis has all
but shut down live concerts.
"This is one of the most important deals we have ever made,"
Hipgnosis Songs founder Merck Mercuriadis said in a statement on
its latest deal.
Carole Bayer Sager has written and produced songs for a host of
artists from Michael Jackson and Barbra Streisand to Ray Charles
and Whitney Houston, winning an Oscar, a Grammy and three Golden
Globe awards, as well enjoying a successful solo career in the
1970s.
Her best known work includes the lyrics for "Nobody Does It
Better," which was the theme song for the 1977 James Bond film,
"The Spy Who Loved Me," and "Heartlight" by Neil Diamond.
"Hearing his (Mercuriadis's) plans to keep these songs aliveand
bring them to a new generation of listeners, excited me and
convinced me now was the right time to allow a new custodian to
take charge of their future," Bayer Sager said.
Hipgnosis has also sealed deals this year with Neil Young and
Shakira, as well as Metallica producer Bob Rock.
Bob Dylan last year sold his entire back catalogue of more than
600 songs, including classics, such as 1965's "Like a Rolling
Stone," to Universal Music Group's publishing arm.
(Reporting by Tom Wilson; editing by Barbara Lewis)
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