Abu Dhabi – Mubasher: Mubadala Investment Company has announced that it had sold its majority stake in the UK’s EMI Music Publishing to Sony Corporation in a consideration of AED 17.45 billion ($4.75 billion).
Mubadala’s investment unit, Mubadala Capital, has cooperated with Sony in the last few years, the Emirati company said in a statement released on Tuesday.
“EMI Music Publishing 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 Music Publishing catalogue,” head of Mubadala Capital Hani Barhoush commented.
EMI Music Publishing owns and administers more than two million songs including classics by Queen, Carole King, and the Motown catalogue, Mubadala revealed.
“We are thrilled to bring EMI Music Publishing fully into the Sony family and maintain our number one position in the music publishing industry,” Sony Corporation’s President and CEO Kenichiro Yoshida said.
