Sony Files EMI Merger Application in Europe

[applehead250609]

Sony Files EMI Merger Application in Europe
February 27, 2012, 2:02 pm
By BEN SISARIO

Sony’s effort to absorb EMI Music Publishing, one of two proposed deals that would further consolidate the music industry, moved forward a step on Monday when the company filed its formal merger application with the European Commission.

Sony led an investment group that in November bid $2.2 billion for EMI’s publishing assets, which includes the songwriting copyrights for more than a million compositions. The Universal Music Group, which offered $1.9 billion for EMI’s record label division, filed its papers on Feb. 17.

A representative of the Sony group, which among several others includes Mubadala, the investment arm of Abu Dhabi, confirmed the filing in a statement on Monday, saying that “the parties will continue to engage constructively with the commission and are confident that the transaction will be approved.”

Sony and Universal’s proposed deals for EMI — which in the United States are being reviewed by the Federal Communications Commission — face opposition from the Warner Music Group, which would be the only other major record company once EMI is absorbed, and also from independent music trade groups. Impala, a group in Brussels that represents indies, has been speaking out loudly against the mergers since they were announced, saying that it wants the deals blocked outright.

But most analysts and industry executives say the most likely outcome is that the commission will demand divestitures, particularly from Universal, which in some European countries would end up with more than 50 percent of the market. Sony is seen as facing less risk in the review process. It would essentially control the EMI Music Publishing catalog, but would have a minority stake in the company.

Sony’s 38 percent share in EMI would be split with the Michael Jackson estate, which is already its partner in Sony/ATV, the entity that controls the Beatles’ publishing. Sony has not said what its split with the Jackson estate would be. The other investors in Sony’s EMI bid are Jynwel Capital, from Malaysia; Blackstone’s GSO Capital Partners unit; and David Geffen.

After the filing, the commission will conduct an initial assessment, which could take several months, before clearing the deals or opening a more thorough review, which would also take several months.

James Kanter contributed from Brussels.
You are not allowed to view links. Register or Login


Mmmmm...........AMBIGUOUS and CONTRADICTORY  again  :? .Who is getting more and more richer: Michael( The Estate) or/and Sony?  bangbang  /judge/
I still don't understand this "thing" with Sony.It will be AN ENIGMA for life,just one more in Michael's life I guess.If Michael Jackson himself was against SONY  argue/  (Sony is phony ,lol  geek/ ) why in the heck his name is still attached with them ,this I will never understand  :? .Of course that is because of the CATALOGUE.....but still............ smiley_spider .


WITH or AGAINST them..........  )  geek/???

[MJonmind]

You are not allowed to view links. Register or Login




Applehead, maybe it was along the lines of MJ in the wheelchair, and Jermaine said he was playing with the media.
Ya know how MJ always would tell the paps to back up and only take video of him from the waist up?  He doesn't want them to see anything of his too close-up, :lol:  so we don't see his slight of hand--magician's illusions.


I don't know if he's getting richer (probably has many billions), but I really believe he's getting more powerful politically, internationally!  The only force against TPTB.