Announcing its financial results, Sony Corp. revealed that it had acquired Michael Jackson's property share from EMI Music Publishing and paid a total of $ 287.5 million.
That was obviously the first step The pending acquisition of EMI Music Publishing by an investor consortium, which still needs to be reviewed by state regulators before the deal can continue. Sony is still in the process of submitting the paperwork for the proposed acquisition, according to the sources, so that the process of examining the impact of the contracts on potential antitrust issues has not yet begun.
So it is, Sony has agreed to pay $ 2.3 billion to acquire EMI and take over EMI's debt of $ 1
The Jackson Estate held a 9.84 percent stake in EMI; or a 25.1% interest in the piece owned by Sony and Jackson, which means that the Jackson estate received $ 287.5 million without earning money through its involvement in Sony / ATV bad return a zero dollar investment.
While the Jackson estate is being overseen by both John McClain and John Branca, the manager of the music industry, the latter, a partner of the law firm Riffren Brittenham LLP, is likely rewarded for making clever publishing deals in the Order of the Estate
Prior to this deal and before EMI Music Publishing came on sale, the Jackson estate had sold its shares in Sony / ATV in 2016 and received $ 750 million in cash, which means the Jackson Estate has over $ 1 billion since it has developed its interest in these publishing assets.
If Sony receives its acquisition-if it receives regulatory approval-EMI Music Publishing will become a wholly owned subsidiary of Sony Corp., and will likely be merged into Sony / ATV.