15 May 2014

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Sony Music invests in Shazam

New York - Sony Music Entertainment, a unit of Sony, has invested $3m in music-recognition application maker Shazam Entertainment, a source familiar with the matter said.

A Wall Street Journal blog post said earlier in the day that Vivendi's Universal Music Group and Warner Music Group owner Access Industries had also invested $3m each in Shazam.

The investments come after Mexican billionaire Carlos Slim invested $40m in Shazam in July.

London-based Shazam's music-recognition technology helps identify song title and artist, along with lyrics, video, artist biography, concert tickets and recommended tracks.

Shazam and Sony declined to comment, while Universal Music and Access Industries were not immediately available for comment.

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