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Business deals

Sony to buy French music company Believe Digital

Indie-label distribution to get a boost

Sony has homed in on the earning potential of increasingly popular indie music.

TOKYO -- Sony is in the final stages of talks to acquire French music distribution and label services provider Believe Digital, aiming to bolster its own strong-performing music operations.

Sony Music Entertainment will obtain a majority stake from current shareholders, including an information technology investment fund, for an estimated 40 billion yen to 50 billion yen ($355 million to $444 million). The transaction is expected to close as early as this year.

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