Leonard Cohen's estate sells his song catalogue to management company Hipgnosis

Hipgnosis acquired rights to all 278 songs and derivatives written by the Canadian singer-songwriter.

The company headed by Middleton, N.S. native Merck Mercuriadis announced the deal on Saturday.

Hipgnosis acquired rights to all 278 songs and derivatives written by the Canadian singer-songwriter.

The company says it has songwriter's share of royalties for songs Cohen wrote up until the year 2000, and songwriter's and publisher's share of royalties for songs written between 2001 and until his death in 2016.

Financial terms of the transaction weren't disclosed.