Sony / EMI Music Publishing Merger Completed
Sony has finished up its acquisition of EMI Music Publishing. The news was discovered in a filing with the SEC Wednesday. The merger is expected to give Sony nearly $1.3 billion in revenue.
However, back in 2012, Sony and other investors acquired EMI Music Publishing for $2.2 billion dollars. To finish the outright ownership deal that was valued at $4.75 billion dollars, Sony paid about $2.3 billion to buy out the other investor groups.
To get the deal done, Sony paid $287.5 million to the Jackson estate for its nearly 10 percent share. Sony also agreed to assume $1.359 billion in debt. According to the SEC filing, Sony said it paid off $960 million of that debt. $400 million in debt will be carried over to Sony’s balance sheet.
In total, Sony spent about $4 billion to acquire EMI Music.