Sony to buy EMI Music Publishing in USD 1.9 billion deal

May 22, 2018 15:13 IST
Sony to buy EMI Music Publishing in USD 1.9 billion deal

Sony Corporation on May 22, 2018 announced to acquire EMI Music Publishing, one of the world's largest music publishing companies, in a USD 1.9-billion deal.

EMI is the second-largest music publishing company by revenue and holds the rights to 2.1 million pieces of music including classics by the likes of Queen, Sam Smith, Pharrell Williams and Drake.

The deal adds a catalogue of more than 2 million songs to Sony's huge list, which already owns 2.3 million copyrights, including the Beatles catalogue.

Highlights of the deal

  • Sony signed a deal with Abu Dhabi-based investment firm Mubadala to buy its 60-percent holding in EMI Music Publishing.
  • Sony is expected to pay about USD 2.3 billion in cash for the deal.
  • The acquisition will raise Sony’s stake in EMI to approximately 90 percent.
  • The deal will value EMI Music Publishing at USD 4.75 billion and it will become a consolidated subsidiary of Sony.
  • However, the closing of the deal is subject to certain closing conditions, including regulatory approvals.


This acquisition is Sony's first major deal under its new CEO Kenichiro Yoshida. Earlier this month, Sony’s music unit also signed a USD 185 million deal to buy stake in Peanuts, the company behind Snoopy and Charlie Brown.

 

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About EMI Music Publishing

• EMI Music Publishing is a multinational music publishing company headquartered in London, United Kingdom. It is owned by a consortium led by Sony/ATV Music Publishing.

• EMI is the second-largest music publishing company by revenue and owns copyrights of over 2 million music pieces.

• Current songwriters under its banner include Kanye West, Alicia Keys, Drake, Pink, Fetty Wap and Hozier.

 

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