Sony Music, in partnership with Singapore's sovereign wealth fund GIC, is reportedly in negotiations to acquire Recognition Music Group, a music catalogue owned by Blackstone. This portfolio includes the works of prominent artists such as Justin Bieber and Neil Young, with the joint venture expected to pay between US$3.5 billion and US$4 billion (approximately S$3.8 billion to S$5.07 billion). Sony's music division will manage the acquired rights, handling distribution and licensing, while GIC will provide capital and investment expertise. This move aligns with a broader trend of major music companies forming joint ventures with investors to acquire music catalogues, enabling them to bid for assets at higher valuations without solely relying on their own finances.