Justin Bieber set to crack $200 million deal to sell music rights: Report

Canadian pop star Justin Bieber is reportedly in talks to sell hismusic rights to Blackstone Inc-backed Hipgnosis Songs Capital for nearly $200 million. The potential deal includes his interest in both his publishing and recorded music catalogue.

According to a report published by Wall Street Journal on Wednesday,people familiar with the matter told the publication that Hipgnosis is planning tobuysong catalogues from Justin and earn revenue when they are streamed online or used in movies or advertising.

However, the deal has not come to a close yet and the discussions are still ongoing, as per reports. Also, no official announcements have been made, so far.

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Hipgnosis and Bieber haven't responded to requests for comment.

Interestingly, Blackstone and Hipgnosis Song Management Ltd announced in October that they will be investing about $1 billion to acquire music rights and manage catalogues. So, could their next deal be with Justin?

Pop artist Justin Timberlake sold the rights to his songs, including hit tracks like 'Cry Me A River' and 'Rock Your Body', to Hipgnosis Song Management in May.

Justin rose to fame when he was just 13 years old, His song 'Baby' became a sensation among the youth and he received praise from all parts of the world.

In June this year, he revealed that he has beendiagnosed with Ramsay Hunt Syndrome, which left half of his face paralyzed, forcing him to cancel his concerts.

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