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Bandier on merger

BANDIER’S STORYBOOK ENDING: Reporting on the FTC’s green-lighting of the Sony/ATV-EMI Music Publishing merger, the N.Y. Post’s Claire Atkinson came up with some plums. The EMI name—which used to stand for Electric and Musical Industries—will be phased out in most regions, she discovered, and EMI’s 1.3 million songs, including post-Beatles works of John Lennon, will be reunited with the Lennon-McCartney catalog currently housed by Sony/ATV. Sony has a 40% stake in EMP, and the total asset value of the two companies is between $4 billion and $5 billion. Marty Bandier described the acquisition as a “storybook ending” in an interview with Atkinson. “I have a free hand to grow and build it. I know the assets and love them, and can hum most of them.” As previously reported, Sony agreed to sell Virgin Music and Famous Music U.K. as conditions of approval. (7/2a)

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