Sony Music Receives $700M from Apollo Global for Music Investments

Investment giant Apollo Global Management is support Sony Music Group to the tune of $700 million to aid the business fund music acquisitions, it was revealed Friday (July 26).

The offer might offer the monetary help required for Sony’s prepared acquisition of Queen‘s recording and music publishing brochures. Sources have informed Billboard the band is lookingfor $1.2 billion for its brochures and supplementary earnings streams, and Bloomberg reported in May that Sony Music was working with another financier on the offer.

“We are happy to offer a bespoke capital service to an affiliate of one of the world’s leading business,” stated Apollo partner Jamshid Ehsani in a declaration. “This financialinvestment permits our customers to invest in high grade securities while assisting Sony to carryout its organization strategies.”

Apollo, which has $671 billion of properties under management, isn’t a beginner to music intellectual residentialorcommercialproperty. The company is the monetary backer of HarborView Equity Partners, an financialinvestment company introduced in 2021 by Sherrese Clarke Soares, co-founder and previous CEO of Tempo Music. In 2011, Apollo gotten CKx, Inc., the owner of American Idol and So You Think You Can Dance manufacturer 19 Entertainment.

Music business sometimes partner with monetary business to acquire brochures. In truth, Sony hasactually taken this path before: In 2021, the business signedupwith with Eldridge to pay $500 million for Bruce Springsteen‘s taped music and publishing brochures. (Eldridge is an financier in Billboard‘s owner, Penske Media Corporation.) In 2023, Shamrock Holdings signedupwith Universal Music Group’s $200 million acquisition of some earnings streams and music possessions of hip-hop manufacturer and artist Dr. Dre.