Sony to become world's No.1 music publisher with $2.3 billion EMI deal
Updated : May 22, 2018 12:32 PM IST
The acquisition, which gives Sony a catalogue of more than 2 million songs from artists such as Kanye West, Sam Smith and Sia, is the biggest so far by new CEO Kenichiro Yoshida.
The deal seeks to take advantage of the rapid growth in streaming music services like Spotify and Apple Music which has driven a recovery in the music industry.
Under the deal, Sony, which already runs EMI Music Publishing, will lift its ownership to roughly 90% from 30% currently by buying Mubadala Investment Company's holding.
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