Sony Music Group is in talks to acquire Recognition Music Group, sources confirm to The Hollywood Reporter, in what would mark just the latest 10-figure music deal to hit the market this year following Primary Wave’s acquisition of Kobalt and BMG’s acquisition of Concord.

The deal, which hasn’t been finalized yet, would encompass mainly publishing rights from some of the most iconic acts in music including Justin Bieber, Neil Young and the Red Hot Chili Peppers. Financial details of the sale aren’t known, though Bloomberg reported the deal would be between $3.5 and $4 billion. Other sources, however, have suggested such a figure would be high for the acquisition. (Billboard, which first reported news of a potential Recognition deal last week, reported a valuation at around $2 billion or more.)

Both Sony and Blackstone declined to comment.

Recognition Music Group’s origins go back to 2018 as the Merck Mercuriadis-founded Hipgnosis Songs. As the catalog acquisition heated up during the pandemic, Hipgnosis was one of the most aggressive buyers in the business, paying $200 million for Bieber’s catalog and also making deals with the likes of Justin Timberlake, Lindsey Buckingham, the Chili Peppers and Timbaland among many others. Blackstone and Hipgnosis had announced a $1 billion deal back in 2021, and in 2024, Blackstone acquired Hipgnosis, with Mercuriadis later stepping down. Hipgnosis became Recognition Music last year.

Recognition has an existing relationship with Sony, selling Hipgnosis Songs Group — the music publishing company formerly known as Big Deal Music — last year, and Sony Music acts as Recognition’s publishing administrator as well.

Recognition isn’t Blackstone’s only music interests. The private equity giant also owns SESAC, the performing rights organization for the likes of Bob Dylan and Adele among others.

The deal is one of several major music company acquisitions that have surfaced in 2026. Primary Wave announced its purchase of music publisher Kobalt back in March, turning the company into one of the biggest in the music business. BMG, meanwhile, announced at the end of April that it is acquiring fellow indie music giant Concord, a move that will turn BMG into the undisputed largest indie record company in the music industry.