Gallery: China now owns these famous Western names (Lovemoney)The deal for the catalogue could be announced as soon as this week, the report added.
This comes close on the heels of another major private equity investment in the music industry when Blackstone Inc partnered with an advisory firm owned by music executive Merck Mercuriadis to buy music rights and record songs.
As part of the partnership, Blackstone said on Tuesday it would deploy around $1 billion and also take an ownership stake in Hipgnosis Song Management, an adviser to the London-listed music catalogues investor Hipgnosis Songs Fund. (Reporting by Chavi Mehta in Bengaluru; Editing by Maju Samuel).
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