Sony Music Group is forming a music rights-buying joint venture with Singapore’s sovereign wealth fund, GIC Pte. According to Bloomberg, Sony and GIC plan to pursue “high-quality, marquee music assets across a range of genres”. “As a long-term investor, GIC seeks to be a creative and flexible capital partner to strategic industry leaders like Sony,” Girish Karira, head of the sovereign fund’s integrated strategies group, said in a statement.
Source: Sony launches $2B music rights acquisition JV with Singapore’s GIC