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Sony, Michael Jackson Estate close acquisition deal

Sony, Michael Jackson Estate close acquisition deal
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Sony Corporation and the Estate of Michael Jackson say that Sony Corporation of America, Sony’s wholly owned subsidiary, has signed a definitive agreement with the Estate of Michael Jackson to obtain full ownership of Sony/ATV Music Publishing LLC by acquiring the 50% interest in Sony/ATV held by the Estate.

According to Sony, the deal follows the signing of a binding memorandum of understanding on March 14, 2016 and the closing of the transaction is subject to certain closing conditions, including regulatory approvals.

The Estate noted that the transaction will not affect its continuing substantial interests in other music assets, including all of Michael Jackson’s master recordings as well as Mijac Music, the publishing company that owns all of the songs written by Michael Jackson as well as songs by some of his favourite songwriters and artists that were acquired by Michael during his life. In addition, the Estate will also retain its ownership interest in EMI Music Publishing.

Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929

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