Sony acquired Believe Digital for up to $444M

(News from Reuters)  
Sony Corp is in the final stages of talks to buy French music distribution and label services provider Believe Digital, the Nikkei business daily reported on Saturday.

Sony Music Entertainment will get a majority stake from the current shareholders for about 40 billion to 50 billion yen ($355.3 million-$444.1 million), the Japanese business daily reported.

The transaction is expected to close this year, according to the Nikkei report.

Both Sony and Believe Digital did not immediately respond to requests for comment.

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