Sony Expected to Collect About $1 Billion from Spotify Stake

Sony Expected to Collect About $1 Billion from Spotify Stake The total is based on the proceeds from the sale of Spotify stock Tuesday, when the streaming service went public. It's also reflective of the value of its remaining stake in Spotify. On Wednesday, Sony said it had sold 17.2 percent of its position in the company for about a profit of $986 million for its fiscal first quarter. The world’s second-largest record label owned 5.7 percent of the company prior to the sale, the most of any music company. Shares of Spotify closed at $144.22 a share on Wednesday.