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.