Sony Music Group is to buy Recognition Music Group’s catalogue from Blackstone in an almost $4bn deal that hands it the rights to more than 45,000 songs, from Leonard Cohen’s “Hallelujah” to Journey’s “Don’t Stop Believin’.”
Sony struck the deal through its joint venture with Singapore’s sovereign wealth fund GIC, the companies announced on Monday.
While they declined to comment on the size of the transaction, one person familiar with the situation said it was valued close to $4bn.
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