Sony says it has consented to purchase a controlling stake in EMI Music Publishing for $2.3bn (£1.71bn) as it hopes to support its music portfolio.

The arrangement would mean Sony would by implication possess around 90% of the firm and its about two million melodies by specialists from Queen and Carole King to Alicia Keys and Pharrell Williams.

Sony said it was excited with the arrangement, which is liable to endorsement.

The declaration comes as Sony gets ready to uncover its mid-term anticipate Tuesday.

EMI, which has its home office in London, is right now claimed by a consortium drove by Sony. It is one of the world’s greatest music distributing firms. Sony as of now possesses 2.3 million music copyrights, including the Beatles list.

The Japanese tech goliath’s arrangement, declared on Tuesday with the Abu Dhabi-based venture firm Mubadala, will mean EMI will turn into a combined auxiliary of Sony.

Mubadala’s private value arm has controlled and overseen EMI Music Publishing for the benefit of Mubadala and other outsider financial specialists since 2012, Sony said on Tuesday. Before that, EMI was possessed by Citigroup.

“We are thrilled to bring EMI Music Publishing into the Sony family and maintain our number one position in the music publishing industry,” Sony’s president and chief executive Kenichiro Yoshida said on Tuesday.

Mr. Yoshida said the music business had delighted in a resurgence over the recent years, driven generally by the ascent of paid membership based gushing administrations.

“In the entertainment space, we are focusing on building a strong IP portfolio, and I believe this acquisition will be a particularly significant milestone for our long-term growth,” he said.