Sony Acquires Recognition's 45,000-Song Catalog

Sony Music Publishing announced on Monday its agreement to acquire the complete music rights portfolio of Recognition Music Group from funds managed by Blackstone, handing the company control over more than 45,000 songs by major artists including Beyoncé, Bruno Mars, Mariah Carey, Leonard Cohen and Journey.

The deal, executed through a joint venture between Sony Music Group and Singapore's sovereign wealth fund GIC, with participation from Sony Bank Inc., includes iconic tracks such as Beyoncé's "Single Ladies (Put a Ring on It)," Bruno Mars' "Locked Out of Heaven," Mariah Carey's "All I Want for Christmas Is You," Leonard Cohen's "Hallelujah," Journey's "Don't Stop Believin'," Rihanna's "Umbrella," Fleetwood Mac's "Go Your Own Way" and the Red Hot Chili Peppers' "Under the Bridge," among thousands of others by artists like Lady Gaga, Bon Jovi, Shakira and Justin Bieber. Financial terms were not disclosed, though reports have valued the transaction at between $3 billion and $4 billion.

The acquisition is subject to customary closing conditions and marks Sony's third purchase of assets from the Recognition portfolio. It follows two smaller deals last year in which Sony acquired...