🔶 Official: Sony is buying the old Hipgnosis catalog

Sony Music Publishing confirms agreement to acquire Blackstone’s Recognition Music Group catalog, encompassing over 45,000 songs

Sony Music Publishing has officially agreed to acquire the complete music rights portfolio of Recognition Music Group from funds managed by Blackstone.

The deal, announced on Monday (May 11), is subject to customary closing conditions.

Financial terms were not disclosed, though Bloomberg reported last week that the deal would be valued at between $3.5 billion and $4 billion.

The acquisition is being made by SMP in partnership with the investment venture Sony Music Group launched earlier this year with Singapore sovereign wealth fund GIC.

Sony Bank Inc. is also participating in the investment, the companies said.

The deal will see Sony Music Publishing acquiring Recognition’s entire catalog of works, encompassing over 45,000 songs.

These include hits (and/or cuts in hits) such as Journey’s “Don’t Stop Believin’,” Red Hot Chili Peppers’ “Under the Bridge,” Fleetwood Mac’s “Go Your Own Way,” Beyoncé’s “Single Ladies (Put A Ring On It),” Bruno Mars’ “Locked Out of Heaven,” Leonard Cohen’s “Hallelujah,” Chic’s “Good Times,” Soundgarden’s “Black Hole Sun,” Lady Gaga’s “Bad Romance,” Bon Jovi’s “Livin’ On A Prayer,” Rihanna’s “Umbrella,” Eurythmics’ “Sweet Dreams (Are Made Of This),” Shakira’s “Whenever, Wherever,” Steve Winwood’s “Higher Love” and Mariah Carey’s “All I Want For Christmas Is You,” among many others.

Rob Stringer, Chairman, Sony Music Group, 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.”

Jon Platt, Chairman & CEO, Sony Music Publishing, said, “Our investment in this extraordinary catalog reflects our belief in the enduring power of great music – a belief that resonates deeply throughout Sony Music Group and is shared by our partners at GIC. These timeless songs continue to define culture and inspire generations, and it is a privilege to champion their legacy as guardians of their next chapter.”

Qasim Abbas, Senior Managing Director and Head of Tactical Opportunities International at Blackstone, said, “This transaction 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. Sony is an exceptional home for these iconic catalogues, and we look forward to continuing to invest across the music sector through Recognition.”

(Noteworthy: Abbas‘s comments suggest Recognition will continue to operate as a Blackstone-backed entity after the sale of its catalog to Sony.)

Ben Katovsky, Recognition Music Group CEO, stated, “It has been an honor to steward this phenomenal catalogue. The team and I are incredibly proud of what we have built at Recognition – protecting and enhancing the legacy and value of these songs while in our care.

“This is a milestone moment for Recognition and testament to the enduring value of music.”