Sony closes acquisition of Recognition Music's 45,000-song catalog in reported $3.5B-$4B deal

Sony Music Publishing completed its acquisition of Recognition Music Group's entire music-rights portfolio after receiving regulatory approvals in multiple territories. The more than 45,000-song catalog contains interests in works associated with Fleetwood Mac, Beyoncé, Lady Gaga, Mariah Carey, Journey and others. Sony made the acquisition with the music-rights investment venture it formed with Singapore sovereign-wealth fund GIC. Official terms remain undisclosed; Music Business Worldwide cited a pre-deal Bloomberg valuation of $3.5 billion-$4 billion, while earlier Variety sourcing placed it around $2 billion.