Deals
Sony to Buy Out EMI Music Publishing for About $2 Billion
- Japanese company had already owned about 40 percent of EMI
- Deal announced as Sony prepares to unveil mid-term plan
Sony is buying EMI Music Publishing, getting its hands on a catalog of 2.1 million songs. Bloomberg’s Reed Stevenson reports.
(Source: Bloomberg)This article is for subscribers only.
Sony Corp. is buying EMI Music Publishing, getting its hands on a catalog of 2.1 million songs from Beyonce, Carole King and other artists as it embarks on a new growth plan built on content and services.
The Japanese company will buy about 60 percent equity interest from a consortium led by from Mubadala Investment Co. for about $2 billion, Sony said in a statement. The Tokyo-based company already owns almost 40 percent of EMI, operates the business and had been in talks to buy the library for the past few months.