EU GIVES GREEN LIGHT TO SONY-EMI

The EU has approved without conditions Sony's acquisition of the remaining interest in EMI Music Publishing, according to reports.

This is a huge moment for select members of Sony/ATV's management team, who stand to receive enormous—and well-deserved—checks as a result of a management incentive plan valued at $180-200m. Marty Bandier, who is rumored to be getting half of that total, is undoubtedly savoring a cheroot about now, and 12-15 members of his team, who will split up the remainder, will also be popping the bubbly. Prez Worldwide Creative Guy Moot, Prez/Global CMO Brian Monaco, Co-Prez Danny Strick, Worldwide CFO Joe Puzio and Worldwide Business Affairs head Peter Brodsky are among those slated to divide up the rest of the pot. Will any of the execs who were not there at the time it was made, approximately seven years ago, get to participate, or is that a non-starter?

While some independent organizations, such as IMPALA, have complained about the decision, the EU's regulators determined that the deal would not raise competition concerns.

In May, the deal to acquire the Mubadala-led group's 60% interest in the famed pubco was struck for an expected $2.3b.