--Sony Music is finalizing a transaction to buy Recognition Music Group from Blackstone through a joint venture with Singapore's sovereign wealth fund GIC, Bloomberg reported, citing people familiar with the matter. The price would be between $3.5 billion and $4 billion, Bloomberg reported.
--In January, GIC and Sony said they were teaming up to buy music catalog assets. Blackstone formed a partnership with Hipgnosis Song Management Ltd. in 2021 and in 2024 bought Hipgnosis Songs Fund Ltd. The company now called Recognition has an interest in and manages over 45,000 songs, with a portfolio including Justin Bieber, Shakira, Journey and Blondie.
--Blackstone declined to comment. Sony didn't immediately reply to a request for comment.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 06, 2026 14:45 ET (18:45 GMT)
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