It’s a big day in music publishing with the closing of the $2.2B cash and debt deal by a consortium led by Sony/ATV — Sony’s partnership with Michael Jackson’s estate — for one of the industry’s crown jewels: EMI Music Publishing. The pact gives Sony/ATV about 1.3M additional titles to administer including pop classics “My Girl,” “Bohemian Rhapsody,” “Every Breath You Take,” “You’ve Got A Friend,” “New York, New York,” “Over The Rainbow” and “Have Yourself A Merry Little Christmas.” Sony/ATV, which already had about 750,000 titles — including The Beatles’ catalog — paid $320M in cash for 40% of the property. Others backing the EMI publishing acquisition include David Geffen, Mubadala Development Company PJSC, Jynwel Capital, and the Blackstone Group’s GSO Capital Partners. ”Music publishing, along with the rest of our entertainment companies, has been a bright spot in our business portfolio, and we expect that trend to continue with this important acquisition,” Sony CEO Kazuo Hirai says. The Sony/ATV-led group bought the EMI collection from Citigroup. The bank took control of EMI last year after its previous owner, Guy Hands’ leveraged buyout firm Terra Firma, was unable to make payments on the debt he took on to buy the music company in 2007 at the height of the private equity bubble. The FTC approved the Sony/ATV deal last week but has yet to rule on Citigroup’s agreement to sell EMI’s music production operation to Vivendi’s Universal Music for $1.9B.
Sony/ATV Becomes Top Music Publisher With Acquisition of EMI Catalog
By DAVID LIEBERMAN, Executive Editor | Friday June 29, 2012 @ 3:36pm EDTTags: EMI Music Group, Kazuo Hirai, Sony/ATV
This article was printed from http://www.deadline.com/2012/06/sonyatv-becomes-top-music-publisher-with-acquisition-of-emi-catalog/
COMMENTS (2)
-
-
Marketplace
-
-
‘Great Escape’ – Ron Howard
News/Opinion Poll
Loading ...By The Numbers
Title Network Index 1 NCIS CBS 144 2 NCIS: Los Angeles CBS 139 3 The Biggest Loser 11 NBC 135 4 CSI: NY CBS 134 5 Human Target FOX 132 6 Undercover Boss CBS 129 7 The Bachelor 15 ABC 129 8 Grey's Anatomy ABC 129 9 The Good Wife CBS 128 10 Desperate Housewives ABC 128 SOURCE: RENTRAK.COMBox Office Poll
Loading ...Archives
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- June 2006
- May 2006
- April 2006
- March 2006
Twitter @DeadlineNY
Scott Free President Michael Costigan Leaving To Focus On Producing http://t.co/rUFbGFQdAbout 1 day ago- 'Spider-Man' Fan Art: 17 Illustrations Celebrating The Marvel Superhero (PHOTOS)
- 'Anna Karenina' Poster: Jude Law And Keira Knightley Are In A Winter Wonderland (PHOTO)
- Oliver Stone Quotes: The Filmmaker's Most Memorable Statements
- 'Spider-Man' Movies: Five Films That Almost Happened
- Best American Accents By Non-American Actors: From Russell Crowe To Colin Farrell
- The Odd Marketing of The Amazing Spider-Man — Spinning a Web of Receipts
- Stellan Skarsgard Gives a Little Nymphomaniac Tease
- REVIEW: Rob Reiner Gives Us a Sticky-sweet and Textureless Magic of Belle Isle
- The Dark Knight Rises Production Notes Reveal Costume, Character, and Plot Details (SPOILERS)
- Spider-Man Amasses Cash, Hobbit Concludes Principal Photography: Biz Break
This will only make Sony publishing an even bigger nightmare to work with. How does this stuff get approved?!?
Why? You don’t like Marty?