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How Wall Street became infatuated with the music industry
Behind the Money
What's an Investment Trust?
In 2018, Merck gets started by creating this investment trust that lists on the London Stock Exchange. He goes out to shareholders and says, there's loads of great artists whose copyrights I want to buy, I'm going to raise some money. And so, they all put some money into this big pool effectively. And then he takes that money and he uses it to go and buy the catalogs. The shareholders are left with a stake in this pool that owns all of these different songs.
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