Get the latest gossip

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

Sony Music has received $700 million from Apollo Global Management for music investments. The funds could be used to help it acquire Queen's catalogs.

Sources have told Billboard the band is seeking $1.2 billion for its catalogs and ancillary income streams, and Bloomberg reported in May that Sony Music was working with another investor on the deal. “We are pleased to provide a bespoke capital solution to an affiliate of one of the world’s leading companies,” said Apollo partner Jamshid Ehsani in a statement. In fact, Sony has taken this route before: In 2021, the company joined with Eldridge to pay $500 million for Bruce Springsteen ‘s recorded music and publishing catalogs.

Get the Android app