STORY: Pop star Justin Bieber could be closing in on a deal to sell his music rights for $200 million.

That's according to a report by the Wall Street Journal on Wednesday (December 22).

It reported the Blackstone-backed Hipgnosis Songs Capital as the potential buyer.

It also said the deal would include Bieber's interest in both his publishing and recorded music catalog.

Bieber rose to fame when he was 13 years old after the success of his song "Baby".

He has since become one of the most popular musical artists in the world.

Hipgnosis buys song catalogs from artists and earns revenue when their music is streamed online or used in movies or advertizing.

In May, it bought the rights to Justin Timberlake's songs, including "Cry Me A River" and "Rock Your Body".

The company also announced a partnership with major investment group Blackstone in October.

They agreed to invest about $1 billion to buy music rights and manage catalogs.

Hipgnosis and Bieber did not immediately respond to a Reuters request for comment.