FINWIRES · TerminalLIVE
FINWIRES

Sony Music Publishing to Buy Recognition Music Catalog in Major Rights Deal

By

Sony Group's (TYO:6758) Sony Music Publishing agreed to acquire the full music rights catalog of Recognition Music Group from funds managed by Blackstone, in a transaction tied to a broader investment venture with GIC, according to a Monday company statement.

Financial terms of the deal were not disclosed. Bloomberg reported last week, citing people familiar with the matter, that the deal could be worth $3.5 billion to $4 billion.

The portfolio includes more than 45,000 songs spanning major global hits such as "Don't Stop Believin'," "Under the Bridge," "Go Your Own Way," "Bad Romance," and "Umbrella," among others.

Sony said the acquisition aligns with its strategy to expand ownership of high-value music rights across genres and markets. The deal builds on a recently launched partnership between Sony Music Group and GIC, focusing on the acquisition and development of premium music catalogs.

Related Articles

Asia

Shenzhen LDROBOT Soars 103% in Hong Kong Trading Debut

Shenzhen LDROBOT's (HKG:1236) shares opened 102.9% above their initial public offering price in a stellar Hong Kong debut on Monday morning.The Chinese robotics company opened at HK$53.50 per share, well above the offer price of HK$26.36.

HKG:1236
Asia

Concord Healthcare to Issue HK$68 Million Convertible Bonds to CSPC Pharma Unit

Concord Healthcare (HKG:2453) agreed to issue HK$68 million of convertible bonds to a unit of CSPC Pharmaceutical (HKG:1093), according to a Monday Hong Kong bourse filing.The oncology healthcare service provider said Dragon Merit will subscribe to the 2% convertible bonds due in April 2027.The bonds are convertible into as many as 40 million Hong Kong-listed shares at an initial conversion price of HK$1.70 per share, representing a premium of about 14.1% to the stock's last closing price.Net proceeds of about HK$63.1 million will mainly be used to repay loans and supplement working capital.Concord Healthcare said the investment is expected to deepen cooperation with CSPC Pharmaceutical in the oncology healthcare sector.

HKG:1093HKG:2453
Asia

Alterity Therapeutics Says Peer-Reviewed Study Validates its Approach to Multiple System Atrophy; Shares Fall 9%

Alterity Therapeutics (ASX:ATH) said findings of a study published in the NeuroImage journal support quantitative susceptibility mapping as an objective imaging biomarker to facilitate the earlier diagnosis of multiple system atrophy (MSA), according to a Monday filing with the Australian bourse.Alterity is advancing its ATH434 lead candidate into a phase three program for multiple system atrophy, a neurodegenerative disease that leads to the failure of the autonomic nervous system and impaired movement.The company said it used quantitative susceptibility mapping in a phase two trial in which ATH434 helped improve diagnostic accuracy and provided "objective evidence of target engagement."The peer-reviewed publication validates the company's approach and "reinforces the role of [quantitative susceptibility mapping] as a biomarker for iron-modulating therapies in MSA," Alterity CEO David Stamler said.The company's shares fell 9% in recent Monday trade.

ASX:ATH