Sony Music Group and Singapore’s GIC Pte are forming a joint venture to acquire music copyrights, with plans to invest between US$2 billion and US$3 billion, according to Bloomberg.

The deal aims to expand Sony’s music catalog, which will be managed by Sony Music, including licensing for streaming, films, and commercials.

GIC will provide capital and investment expertise as a long-term investor.

This partnership follows similar arrangements by Universal Music Group and Warner Music Group with Dundee Partners and Bain Capital, respectively.

GIC has been investing in the music industry for nearly a decade.

🔗 Source: Bloomberg

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