Sony/ATV Buys Famous Publishing From Viacom
May 30, 2007 at 5:51 AM (PT)
SONY/ATV MUSIC PUBLISHING and VIACOM INC. have signed an agreement for SONY/ATV to acquire FAMOUS MUSIC LLC from VIACOM. SONY/ATV MUSIC PUBLISHING is co-owned by SONY and trusts formed by MICHAEL JACKSON.
"The FAMOUS MUSIC catalogue is a world-class asset filled with evergreen songs that people know and love," said SONY/ATV Chairman/CEO MARTIN BANDIER. "The depth and breadth of the catalogue is what truly makes it great, and I strongly believe that the addition of the FAMOUS catalogue and its songwriters to SONY/ATV is another step in our long-range growth plans. In addition, we are pleased to be entering the production music business through FAMOUS' EXTREME division. EXTREME's valuable creative team and unique business model will be a terrific complement to our core music publishing business."
Famous Music is one of the iconic names in music publishing.
"FAMOUS MUSIC is one of the iconic names in music publishing," said VIACOM Pres./CEO PHILIPPE DAUMAN. "We are very pleased that SONY/ATV MUSIC PUBLISHING has recognized its great value and potential. We have benefited greatly from the talent and experience of the very able management team at FAMOUS MUSIC, particularly its longtime CEO, IRWIN ROBINSON, as well as Pres./COO IRA JAFFE and Exec. VP/Finance & Administration MARGARET JOHNSON. We know that FAMOUS and its fine executives have many great days ahead and want to thank them for their tremendous accomplishments."
Said SONY CORP. CFO ROB WIESENTHAL, "FAMOUS MUSIC is one of the world's largest independent music publishers, and this acquisition, following on the heels of the LEIBER STOLLER acquisition, further enhances SONY/ATV's position in the global music publishing industry."
"This is a milestone event for SONY/ATV MUSIC PUBLISHING," said MICHAEL JACKSON. "The diverse collection of songs in this catalogue range from timeless classics to contemporary hits, and I am pleased to add the acquisition of FAMOUS MUSIC to SONY/ATV."