Sony Acquires Mubadala's Interest In EMI Publishing

Now 90% Owned By Sony

More of EMI PUBLISHING is now a part of SONY, as MUBADALA INVESTMENT COMPANY has sold its approximately 60% equity interest in EMI MUSIC PUBLISHING to SONY CORPORATION OF AMERICA, based on an enterprise value of $4.75 billion. As a result of the transaction, SONY will indirectly own approximately 90% of the equity interest in EMI MUSIC PUBLISHING, and it will become a consolidated subsidiary of SONY. The closing of the transaction is subject to certain closing conditions, including regulatory approvals.

"We are thrilled to bring EMI MUSIC PUBLISHING into the SONY family and maintain our number one position in the music publishing industry," said SONY CORP. Pres./CEO KENICHIRO YOSHIDA. "I would also like to convey my gratitude to MUBADALA, our equity partner in EMI MUSIC PUBLISHING, for sharing our long-term perspective on the potential success of music publishing and their support as we grew the business. The music business has enjoyed a resurgence over the past couple of years, driven largely by the rise of paid subscription-based streaming services. In the entertainment space, we are focusing on building a strong IP portfolio, and I believe this acquisition will be a particularly significant milestone for our long-term growth."

The original transaction and the investor consortium that partnered with SONY and the MICHAEL JACKSON Estate to acquire EMI MUSIC PUBLISHING from a wholly-owned subsidiary of CITIGROUP INC. were sourced and assembled by MUBADALA CAPITAL's private equity business, which has controlled and managed EMI MUSIC PUBLISHING on behalf of MUBADALA and other third-party investors since 2012.

MUBADALA CAPITAL Head HANI BARHOUSH said, "EMI has been a successful investment for MUBADALA and I would like to personally extend my appreciation to the leadership at SONY and SONY/ATV, who have been instrumental in administering the EMI catalog as well as shaping the music landscape on a global basis. They have been tremendous partners to us."

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