Known for his socially conscious lyrics, the rap artist's signature style blends hip-hop with reggae and regional influences.
Sources previously told Billboard that the band was seeking $1.2 billion for the assets.
Sony Music intends to look for growth in emerging markets and adjacent businesses such as merchandising, said Hiroki Totoki, president, COO and CFO at Sony Corp.
"I am very excited to be able to share with this great team my next album, an album that is very special to me," the Argentine rapper said.
With leaner staffs, “you either need to spread your remaining staff more thinly or serve a smaller roster,” one executive says.
“It’s different to hear Beyoncé on a country radio station," says one programmer. "We’re going to play it more and see if it the audience likes it.”
At a Senate forum on artificial intelligence, executive Dennis Kooker called for a federal right of publicity and ways to give musicians "consent, credit and compensation" for use of their work.
"Merchants of garbage," live music spending, rosy outlooks and more.
The company is planning changes to its royalty model for 2024 that will disqualify some tracks from payments and increase penalties for fraud.
Negotiations with major labels are ongoing and slowing down the project's beta release.
