Commission approves Sony’s acquisition of sole control over EMI Music Publishing
Big news out of Europe in the music industry. The European Commission has approved the proposed acquisition of EMI Music Publishing by Sony Corporation of America.
The Commission investigated but found the deal raises no competition concerns. One particular concern was Sony’s market power in online platforms. Since 2012, EMI Music Publishing was jointly owned and controlled by Sony and Mubadala Investment Company PJSC, an investment fund based in the United Arab Emirates. Under the proposed transaction, Sony would now acquire sole control and ownership over EMI MP.
Music publishers have the ability to make money by granting licences to users of music. The most common music publishing rights are for recorded music, performance rights for concerts and TV and radio broadcasting, online rights for online music downloading or streaming and synchronisation rights for advertisements and film music.