It's official. A consortium led by Sony/ATV has purchased EMI Publishing for $2.2 billion. The deal will allow the publishing arm to operate as a separate company, unlike yesterday $1.9 billion deal which saw Universal gobbling up EMI's recorded music division.
Sony/ATV, a joint venture between Sony Corp. and the Michael Jackson estate, a 38% share of the new company along with Mubadala Development Co., Jynwel Capital Ltd., the Blackstone Group and David Geffen.
While a separate business entity,the new operation will be managed for the consortium by senior executives at Sony/ATV.
