Sony/ATV Becomes Top Music Publisher With Acquisition of EMI Catalog

By | Friday June 29, 2012 @ 12:36pm PDT

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 … Read More »

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Citigroup To Collect $4.1B For EMI In Deals With Universal And Sony

Universal Music has already announced that it will pay $1.9B for the recorded music operation. We’re told Sony’s teed up to disclose that it landed EMI’s music publishing business for $2.2B. The deals end a drawn-out process to decide the fate of a company whose hitmakers include The Beatles and Katy Perry. But the companies may face tough questioning from European antitrust officials, and possibly U.S. ones as well. Impala, which represents independent European music companies, said this week that deals with Universal and Sony — two of the industry’s largest companies —  ”would be the worst  possible outcome of the EMI negotiations — for music, those who make it and  those who want to access it.” Citigroup has made it clear to bidders that it expects to be paid no matter what; buyers would have to assume all the financial risks for any deal that’s blocked.

If the transactions go through, then it could mean big problems for Warner Music, which industrialist Len Blavatnik bought for $3.3B early this year. “Warner’s really small now” compared to Universal and Sony, says one long-time industry exec. “They’re the third port of call for every artist, and won’t have the same leverage with Walmart for shelf space.” The publishing deal with Sony also raises questions for BMG, which has been on an acquisition tear with financial support from private-equity firm Kohlberg Kravis & Roberts. BMG has wanted to build scale, and a deal with EMI — the No. 1 music publisher — would have capped that effort. Some industry players wonder whether KKR now will look to sell its interest in BMG. Read More »

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Imax Decides It Can Live Without A COO

By | Monday September 19, 2011 @ 2:53pm PDT

Imax says in an SEC filing that COO Gary Moss will leave at the end of this month and not be replaced. Imax created the COO job, reporting to CEO Rich Gelfond, in 2009 when Moss joined. He had been a consultant … Read More »

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Google Will Pay License Fees For Indie Music Clips On YouTube

Google has agreed to pay royalties to songwriters repped by the National Music Publishers Assocation when their songs appear in videos on YouTube. The deal, which covers roughly 3,000 mainly indie songwriters, resolves a copyright lawsuit brought … Read More »

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