Sony Corporation and Mubadala Investment Company are set to own 60% of the equity interest in the EMI Music Publishing with estimated around 90% in total.
According to Sony CEO and President Kenichiro Yoshida, this agreement is for sharing the company’s long-term perspective. Sony will focus more on the content than hardware, similar to building an IP Portfolio.
EMI was paid approximately $2.3 billion by Sony. The music publishing company owns more than two million copyright songs including the songs of Queen, Carole King, Kanye West, Alicia Keys, Drake, Sam Smith, Pink, Pharrell Williams, Calvin Harris, Fetty Wap, Hozier and Sia.
Sony and EMI will end the fiscal year by March 31, 2019, according to the press release of Sony’s official page. Sony will have more advantages that can help the company grow and innovate.