US Stock Market Move | Sony (SONY.US) rose nearly 6% amid rumors of its acquisition of Blackstone Music Copyright.
On Monday, Sony (SONY.US) rose nearly 6%, closing at $21.33.
On Monday, Sony (SONY.US) rose nearly 6% to $21.33. In terms of news, on May 11th, there were reports that Sony Music Publishing has reached an agreement to officially acquire the entire music catalog of Recognition Music Group, a subsidiary of Blackstone. Prior to this, sources had indicated that Sony would team up with the Singapore sovereign wealth fund GIC to jointly establish a joint venture to complete the acquisition, with the transaction price estimated to be between $3.5 billion and $4 billion.
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