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EMI Music Publishing To Become Sony Subsidiary In $2.3 Billion Deal
Mubadala Investment Company will transfer all of its holdings to Sony Corporation
EMI Music Publishing has had a complicated story in some ways — for example, its rights are now administered by Sony/ATV. But one thing that is simple is the scale of its high-quality catalog. It publishes over 2 million songs with classics including Carole King, Motown and Queen as well as contemporary repertoire including works by Drake, Alicia Keys, Pink, Sia, Sam Smith, Kanye West, and Pharrell Williams.
As announced on May 22, Sony Corporation will acquire the stake in EMI Music Publishing currently held by Mubadala Investment Company with the expectation of eventual cash outlay at close-of-deal to equal $2.3 billion. It also equals a strong statement of belief in the business of songwriting.
"The music business has enjoyed a resurgence over the past couple of years, driven largely by the rise of paid subscription-based streaming services," said Sony Corporation President/CEO Kenichiro Yoshida. "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."
Who owns what, and how, after the deal won't alter Sony/ATV administering the rights catalog and will result in Sony's indirect ownership of 90 percent of EMI Music Publishing, making it into a consolidated subsidiary.
Consolidation is the theme in this switch and a case of the biggest getting bigger. However, new song publishers are born frequently and, with Sony's market leadership, the business could grow more efficient and remunerative.
Allen Hughes' "The Defiant Ones" Wins Best Music Film | 2018 GRAMMY
Director Allen Hughes' four-part documentary takes home Best Music Film honors for its portrayal of the unlikely partnership that changed the music business
The team behind The Defiant Ones celebrated a big win for Best Music Film at the 60th GRAMMY Awards. The crew awarded include director Allen Hughes and producers Sarah Anthony, Fritzi Horstman, Broderick Johnson, Gene Kirkwood, Andrew Kosove, Laura Lancaster, Michael Lombardo, Jerry Longarzo, Doug Pray & Steven Williams.
In a year rife with quality music documentaries and series, the bar has been set high for this dynamic category. The Defiant Ones is a four-part HBO documentary telling the story of an unlikely duo taking the music business by storm seems better suited for fantastical pages of a comic book, but for engineer-turned-mogul Jimmy Iovine and super-producer Dr. Dre, it's all truth.The Defiant Ones recounts their histories, their tribulations and their wild success. These include first-hand accounts from those who were there in Iovine's early days, such as Bruce Springsteen and U2's Bono, as well as those on board when Dre and Iovine joined forces, such as Snoop Dogg and Eminem.
The competition was stiff as the category was filled with compelling films such as One More Time With Feeling, Two Trains Runnin', Soundbreaking, and Long Strange Trip.
Photo: Kevin Mazur/WireImage.com
Pearl Jam Named Record Store Day 2019 Ambassadors
Pearl Jam's Mike McCready says "if you love music," record stores are the place to find it
Record Store Day 2019 will arrive on April 13 and this year's RSD Ambassadors are Pearl Jam. Past ambassadors include Dave Grohl, Metallica, Run The Jewels (Killer Mike and El-P), and 61st GRAMMY Awards winner for Best Rock Song St. Vincent.
McCready was also the 2018 recipient of MusiCares' Stevie Ray Vaughan Award.
The band was formed in 1990 by McCready, Jeff Ament, Stone Gossard, and Eddie Vedder, and they have played with drummer Matt Cameron since 2002. They have had five albums reach No. 1 on the Billboard 200 and four albums reach No. 2.
"Pearl Jam is honored to be Record Store Day's Ambassador for 2019. Independent record stores are hugely important to me," Pearl Jam's Mike McCready said in a statement publicizing the peak-vinyl event. "Support every independent record store that you can. They're really a good part of society. Know if you love music, this is the place to find it."
With a dozen GRAMMY nominations to date, Pearl Jam's sole win so far was at the 38th GRAMMY Awards for "Spin The Black Circle" for Best Hard Rock Performance.
Pearl Jam will be performing on March 3 in Tempe, Ariz. at the Innings festival, on June 15 in Florence, Italy at the Firenze Rocks Festival and at another festival in Barolo, Italy on June 17. On July 6 Pearl Jam will headline London's Wembley Stadium.
Portugal. The Man To Aida Cuevas: Backstage At The 2018 GRAMMYs
Also see James Fauntleroy, Reba McIntire, Latroit, and more after they stepped off the GRAMMY stage
What do artists do the moment they walk off the GRAMMY stage from presenting, accepting an award or performing? Now, you can find out.
Also see Best Pop Duo/Group Performance GRAMMY winners Portugal. The Man posing with their first career GRAMMY Award, Best Roots Gospel Album GRAMMY winner Reba McIntire right after she walked offstage, Best R&B Song GRAMMY winner James Fauntleroy, Best Remixed Recording GRAMMY winner Latroit, and many more, with these photos from backstage during the 60th GRAMMY Awards.
Photo: Daniel Boczarski/Getty Images
Original Misfits Unleash One Night Only L.A. Reunion Show
Dark punk legends to play first show with Glenn Danzig and Jerry Only since last year's Riot Fest reunion
There's big news today for punk-rock fans aware that the Misfits made much more than just T-shirts.
The massively influential punk band announced a special show touted as the "only 2017 performance in this world… or any world" and billed as "The Original Misfits" in Los Angeles at the Forum on Dec. 30.
This will be the first Misfits show featuring original singer Glenn Danzig and original bassist Jerry Only with long-time guitarist Doyle Wolfgang von Frankenstein since the band reunited for a pair of Riot Fest appearances in Chicago and Denver in 2016. Last year's Riot Fest gigs, which featured drummer Dave Lombardo, marked the first time in 33 years the original Misfits members played together.
"OK Los Angeles, you've waited almost 35 years for this, here's your chance to see the "Original Misfits" in this Exclusive L.A. only performance." said Glenn Danzig. "No Tour, No BS, just one night of dark metal-punk hardcore brutality that will go down in the history books. See you there."
Tickets for this "one night only" show go on sale Friday, August 25.