The deal is valued at an estimated $200 million.
"This acquisition ranks among the biggest deals ever made for an artist under the age of 70, such is the power of this incredible catalogue that has almost 82 million monthly listeners and over 30 billion streams on Spotify alone," Hipgnosis Song Management founder and CEO Merck Mercuriadis said in a statement.
Bieber's longtime manager Scooter Braun said in a statement, "Justin is truly a once in a generation artist and that is reflected and acknowledged by the magnitude of this deal."
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