Singer Barry Manilow is known for several hit songs, including “Looks Like We Made It.” Manilow may soon be saying “looks like we did it” to the point of taking legal action as he takes over the catalog company Hipgnosis Songs Fund.
What Happened: Hipgnosis Songs Fund is one of several song catalog companies under the Hipgnosis brand that was owned by Blackstone Inc BX through an acquisition earlier this year.
Manilow is one of several musicians who have sold catalogs of their songs in recent years. The sale of his 2020 song catalog is now the subject of a $1.5 million lawsuit against the Hipgnosis Songs Fund.
The singer and Stiletto Entertainment have filed a lawsuit for $1.5 million in unpaid bonus funds in US District Court, according to a Variety report. The suit also accuses Hipgnosis of fraud, fraudulent misrepresentation and breach of contract.
Last month, Hipgnosis filed a breach of contract lawsuit against Manilow. A representative of Hipgnosis told the Financial Times that their lawsuit was due to a “difference in the meaning of certain clauses in the sales contract relating to bonus payments.”
The song catalog company said two bonus payments of $750,000 in addition to the $7.5 million initially paid for the catalog were contingent on Manilow’s song revenue growing 10% or more over the years after the post-acquisition lines. Hipgnosis stated that the songs were not eligible for the bonus features.
Manilow’s lawsuit accuses Hipgnosis of failing to follow through on issues initially discussed, including licensing for advertising, film and television and album re-releases. “Hipgnosis has pledged to provide a dedicated full-time team of qualified industry professionals to focus on maximizing the value of the royalties they have acquired,” says Manilow.