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Report: Sony in talks to take over EMI Music Publishing

Published 03/09/2018, 01:37 PM
© Reuters.  Report: Sony in talks to take over EMI Music Publishing
SONY
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  • Sony (SNE -0.3%) may solidify its spot as top music publisher, as Bloomberg reports the company's held preliminary talks to buy a majority stake in EMI Music Publishing, holders of a catalog of more than 2.1M songs.
  • Sony already owns nearly 40% and operates EMI's business.
  • EMI's owner, Abu Dhabi's sovereign wealth fund, has reached out to possible buyers including entertainment groups and financial bidders, seeking a valuation of at least $4B for the company.
  • The fund -- Mubadala Investment Co. -- plans to exercise an option that either forces Soy to acquire its stake or trigger an outright sale.
  • Meanwhile, Warner Music Group Len Blavatnik has expressed an interest in acquiring EMI's hits, including those from Beyonce and Carole King.
  • Now read: After A Cyclically-Driven Downturn In 2017, A Box Office Rebound In 2018 Will Significantly Benefit AMC's Depressed Stock


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