Sony acquires EMI Music Publishing
The Japanese music conglomerate Sony has announced a deal to acquire the label EMI Music Publishing. Sony is purchasing the 60 percent stake in EMI held by the Abu Dhabi-based investment firm Mubadala for $1.9 billion, the music giant announced on Tuesday.
This gives Sony an indirect stake of around 90 percent in EMI, according to Sony. "We are pleased to bring EMI Music Publishing into the Sony family," said Sony CEO Kenichiro Yoshida. It is the first major deal under the new head of the group. (SDA)
