Sony In Talks To Buy EMI Music Publishing For $4B
EMI Music Publishing is for sale for $4 billion, and Sony is reportedly first in line. Access Industries, the owner of Warner Music Group, is among those also expressing interest in the massive song catalog.
EMI Music publishing is actively seeking a buyer for its 2.2 million song catalog. Sony Cerp. is said to be among the most interested buyers, sources tell Bloomberg, with Access Industries and other entertainment companies and financial firms also eyeing the musical treasure trove.
Sony/ATV already handles most of the day to day operations of EMI, which was purchased for $2.2 billion in 2012 by a consortium led by Mubadala Investments. The Abu Dhabi based firm owns 60%, with other stakeholders including David Geffen, Jynwel Capital and the Blackstone Group’s GSO Capital Partners.
Streaming has revitalized the music industry. So, even at a price almost twice its 2012 valuation, EMI Music Publishing is seen as a prize acquisition. Its 2.2 million song library includes such current artists as deadmau5, Timo Maas, Megadeth, Bloc Party, Lostprophets, Benson Taylor, Avicii, Quarashi, Avenged Sevenfold, Slipknot, MSTRKRFT and Sean Paul.