The Federal Trade Commission has approved a Sony-led consortium's purchase of EMI Music Publishing, without having to make any divestitures, the FTC said on Friday. U.S. antitrust regulators gave the nod ...
Vivendi's Universal Music Group and Sony won the auction for EMI's recorded music and music publishing operations, trumping bids by archrivals Warner Music Group and BMG Music Publishing at the 11th hour.
The EU's approval of Sony's $2.2-billion acquisition of EMI's publishing business clears a major hurdle in Sony's ambition to create the world's largest music publishing group.The European Union's antitrust regulators have approved Sony Corp.'s $2.2-billion acquisition of EMI's publishing business, clearing a major hurdle in Sony's ambition to create the world's largest music publishing group with rights to about 2 million songs, including some by David Bowie, Stevie Wonder and Pink.
European competition regulators Thursday approved a $2.2 billion takeover by Japan's Sony and Emirates investors of EMI Music Publishing which holds the rights to global pop stars such as Rihanna.The European Commission said the approval was conditional on Sony and its partners in the Mubadala investment fund selling off the music publishing rights to other artists including Ozzy Osbourne, the European Commission said.
The $4.1-billion deal calls for Universal to acquire EMI's recorded music division from Citigroup for $1.9 billion and Sony to acquire EMI's music publishing business for $2.2 billion.The century-old EMI Group music company has been split in two and sold for $4.1 billion to Universal Music Group and Sony Corp.