TOKYO (CelebrityAccess) — Sony Corp. is reportedly weighing a bid to acquire a majority stake in EMI Music Publishing.
According to Bloomberg, sources close to the negotiation say that reps from Sony have held preliminary talks with EMI Music Publishing owners Mubadala Investment Co. over EMI’s catalog. Mubadala Investment Co., the sovereign wealth fund of Abu Dhabi which currently owns EMI MP is currently seeking a valuation of at least $4bn for EMI, Bloomberg reported.
EMI’s music repertoire would be a major acquisition for any music publisher and the approximately 2.1 million songs in the company’s catalog includes hits from artists such as Beyonce and Carole King, deadmau5, and Megadeth. If Sony completed the deal, it would make them the largest music publisher in the world, as well as providing a significant source of revenue from streaming for the label-giant.
Sony already owns a significant stake in EMI, after they acquired 40% of the company from Citigroup in 2011 for the $2.2 billion.