12:09 PM EDT, 05/06/2026 (MT Newswires) -- Sony Group's (SONY) Sony Music is nearing a deal to acquire a music catalog including works by artists such as Justin Bieber and Neil Young from Blackstone (BX), Bloomberg reported Wednesday, citing people familiar with the matter.

Sony is in discussions to acquire Recognition Music through a joint venture with Singaporean sovereign wealth fund GIC, which will pay from $3.5 billion to $4 billion, according to the report.

The companies are aiming to close the transaction by next week, but a deal is not guaranteed, people familiar with the matter told Bloomberg.

Sony did not immediately respond to a request for comment from MT Newswires.

Shares of Sony were up more than 3% in Wednesday afternoon trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 20.74, Change: +0.61, Percent Change: +3.06