EMI Music Publishing sold to Sony/ATV consortium

EMI Music Publishing has been sold to an investor group consisting of Sony Corporation of America, the Estate of Michael Jackson, PJSC, Jynwel Capital Limited, GSO Capital Partners LP and American record executive David Geffen.

Citi handled the sale of the publishing group which went for a reported $2.2 billion. Assets include a catalogue of over 1.3 million music copyrights spanning a multitude all genres across the globe.

Stephen Volk, chairman of the Board of EMI Group Global Limited and vice chairman of Citigroup said: “We are proud to have been a steward of EMI Music Publishing and its great collection of assets. We are grateful to Roger Faxon, his management team and all of EMI’s staff for the continued success of this business during Citi’s ownership.”

The sale of EMI’s recorded music business is also being handled by Citigroup and is currently pending approval as it looks to be purchased by Vivendi and Universal Music Group.

Source: Music Week / Business Wire