Report: Martin Bandier Says Sony/ATV Is Not For Sale
January 12, 2015 at 3:49 AM (PT)
THE NEW YORK POST reports, "The head of SONY’s music publishing business said it’s not for sale -- despite leaked e-mails showing the parent company weighed unloading the division late last year."
“I have been advised by SONY CORP. that SONY/ATV is not for sale,” SONY/ATV CEO MARTIN BANDIER said in an internal memo to staffers on FRIDAY.
A leaked e-mail last OCTOBER indicated the company might be for sale. “I’d like to hear your thoughts on the music publishing business, which has a rather complex capital and governance structure and is impacted by the market shift to streaming,” SONY CFO KENICHIRO YOSHIDAON, wrote.
THE POST noted, "SONY’s U.S.-based Chief Financial Officer, STEVEN KOBER, wrote back that he was surprised because a potential sale was a 'top secret project,' known to only MICHAEL LYNTON, the head of SONY’s entertainment business, and NICOLE SELIGMAN, SONY’s U.S. President.