Sony Music Acquires Recognition Music Group for $4 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy SONY?
Sony Music (SONY) is finalizing a deal to acquire Recognition Music Group, which either owns or manages the rights to more than 45,000 songs in a music catalog that includes works of Justin Bieber and Neil Young, from Blackstone (BX) in "one of the largest such deals in music history," people familiar with the matter told Bloomberg's Lucas Shaw. Sony plans to buy Recognition through a joint venture with the Singaporean sovereign wealth fund GIC, which will pay between $3.5B and $4B, the sources said.
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Analyst Views on SONY
Wall Street analysts forecast SONY stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 21.290
Low
34.00
Averages
34.00
High
34.00
Current: 21.290
Low
34.00
Averages
34.00
High
34.00
About SONY
Sony Group Corp is a Japan-based company engaged in the games & network services (G&NS), music, movies, entertainment technology & services (ET&S), imaging & sensing solutions (I&SS) and other businesses. It has seven business segments. G&NS segment is involved in network service business, the manufacture and sale of home video game consoles and software. The Music segment mainly includes music production, music publishing and video media platform businesses. The Movies segment mainly includes film production, television program production and media network businesses. The ET&S field mainly includes the television business, audio, video business, still image, video camera business, smartphone business and Internet-related service business. The I&SS segment mainly includes the image sensor business. The Financial segment is involved in the insurance business and banking business. The Other segment consists of activities such as disc manufacturing business and recording media business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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