Sony Music will acquire the rights to iconic songs from Beyonce, Leonard Cohen and other musical giants from financial heavyweight Blackstone – a deal reportedly worth about US$4 billion.

The purchase of Blackstone's London-based Recognition's catalog – which features more than 45,000 songs – is part of Sony's partnership with Singapore investment entity GIC, which announced the deal on Monday.

The Financial Times reported the deal was worth around US$4 billion, citing a person familiar with the matter.

Sony and GIC did not immediately respond to a request for comment about the value of the transaction. Recognition declined comment.

The transaction positions Sony for streaming payments for hit songs ranging from Journey's "Don't Stop Believin'" and Beyonce's "Single Ladies (Put A Ring On It)" to Lady Gaga's "Bad Romance" and Leonard Cohen's "Hallelujah."

Recognition – originally known as Hipgnosis Songs Fund – went public in 2018 before being acquired in 2024 for US$1.6 billion by asset manager Blackstone, which gave it its new name.

The deal "delivers a strong outcome for Blackstone and our investors and represents a further vote of confidence in music rights as an institutionally established asset class," said Blackstone senior managing director Qasim Abbas.

Sony Music Chairman Rob Stringer said: "We are so proud and excited to represent this incredible catalogue of many of the greatest songs in pop history through this momentous acquisition." (AFP)



Edited by Cecil Wong