Investment giant Apollo Global Management is backing Sony Music Group to the tune of $700 million to help the company fund music acquisitions, it was announced Friday (July 26). The deal could provide the financial assistance needed for Sony’s planned acquisition of Queen‘s recording and music publishing catalogs. Sources have told Billboard the band is seeking $1.2 billion for its catalogs and ancillary income stream.
Source: Sony Music Receives $700M from Apollo Global for Music Investments