Inside Sony's $4B Bid For Bieber And Fleetwood Mac Rights

Sony Music is nearing a deal to pay around $4 billion for Recognition Music Group (formerly known as Hipgnosis Song Fund), the Blackstone-owned vehicle holding rights to more than 45,000 songs from Justin Bieber, Neil Young, Fleetwood Mac, the Red Hot Chili Peppers and others. If completed, the deal would close a chapter on both the Hipgnosis story and the modern catalog acquisition market it helped create.