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SONY ACQUIRES REMAINING STAKE
IN EMI

Sony Corporation of America has announced the acquisition of the remaining 25.1% interest in Nile Acquisition LLC from the Estate of Michael Jackson, which encompasses the last remaining share of EMI Music Publishing not previously owned by Sony (which earlier this year purchased the 60% equity held by the Mubadala-led consortium). Sony paid $287.5m to the Estate, according to the announcement, and that fee also covers "the reimbursement of various expenses and costs related to the acquisition." This expenditure is not expected to materially affect Sony's forecasts for the fiscal year ending 3/31/19.

In other news, Marty Bandier just fired up a honkin' big Cohiba. John Branca, meanwhile, is moonwalking.

 

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