Rolling Stone and Music Business Worldwide ink global content partnership
The global music industry just got a bit more interconnected after the announcement of a partnership between Rolling Stone and Music Business Worldwide, which is a leading music industry information platform based in London.
According to Penske Media Corporation, which owns Rolling Stone, the wide-ranging and ongoing content sharing deal is effective immediately. This includes a weekly industry-focused column written by MBW Founder and Publisher, Tim Ingham, which will appear first on Rolling Stone's website and in its monthly magazine.
"We're thrilled to deepen Rolling Stone's editorial coverage of the music business with Tim's consistently high-caliber industry insight and
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.
News of the deal comes about three weeks after the EU Commission gave the deal regulatory approval.
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,