Pakistan, May 13 -- Sony Music Publishing said on Monday it would buy Recognition Music Group's entire catalog of works from funds managed by Blackstone, gaining access to more than 45,000 songs including those from Beyonce, Fleetwood Mac and Rihanna.

Financial terms of the acquisition were not disclosed by the companies. The deal was for about $4 billion, a source familiar with the transaction said, requesting anonymity as the matter was private.

Record labels and publishers are racing to secure ownership of music rights amid strong and predictable revenues from streaming platforms.

Media companies are increasingly seeking well-known songs to anchor films, documentaries and television series, as streaming services look to deep catalog...