{"id":47362,"date":"2018-07-31T11:08:28","date_gmt":"2018-07-31T10:08:28","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=47362"},"modified":"2018-07-31T11:09:08","modified_gmt":"2018-07-31T10:09:08","slug":"sony-corp-snaps-up-remaining-10-stake-in-emi-music-publishing-from-jackson-estate","status":"publish","type":"post","link":"https:\/\/www.musicbusinessworldwide.com\/sony-corp-snaps-up-remaining-10-stake-in-emi-music-publishing-from-jackson-estate\/","title":{"rendered":"Sony Corp snaps up remaining 10% stake in EMI Music Publishing from Jackson Estate"},"content":{"rendered":"

Sony Corporation is – subject to regulatory approval – now the owner of 100% in EMI Music Publishing.<\/p>\n

It’s become so after paying $287.5m to the Michael Jackson Estate to take control of the remaining 25.1% interest in Nile Acquisition LLC which Sony didn’t already own.<\/p>\n

Long story short: this agreement means that Sony also gets hold of the approximately 10% stake in EMI Music Publishing that the Jackson Estate previously controlled.<\/p>\n

(The round-the-houses version:\u00a0Nile owns an approximately 40% equity interest in D.H. Publishing, L.P., which owns and manages EMI Music Publishing.)<\/p>\n

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Sony bought a 60% stake in EMP (to increase its overall holding to 90%) in a $2.3bn deal in May<\/a> – an agreement which is now subject to regulatory approval.<\/p>\n

In addition to that payment, Sony has agreed to take on EMI’s debt of $1.359bn.<\/p>\n

The agreement gives EMI Music Publishing an enterprise value of $4.75bn.<\/p>\n

Sony is purchasing the 60% stake in EMI from an investor consortium led by Mubadala Investment Company.<\/p>\n

According to new Sony financial documents released today (July 31), EMI Music Publishing owned and\/or administered 2.06m copyrights as of March 31, 2018.<\/p>\n

Sony Corporation is the owner of recorded music company Sony Music Entertainment, in addition to Sony\/ATV as well as Sony’s publishing and label interests in Japan.<\/p>\n","protected":false},"excerpt":{"rendered":"

Japanese corporation is now the 100% owner of EMP… subject to regulatory approval<\/p>\n","protected":false},"author":2,"featured_media":4292,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[1047],"class_list":["post-47362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-sony-corp"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/47362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=47362"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/47362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/4292"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=47362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=47362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=47362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}