आपकी जीत में ही हमारी जीत है
loading...
07:27 AM | Sun, 04 Dec 2016

Download Our Mobile App

Download Font

Sony buys out Michael Jackson's stake in joint music venture

263 Days ago

sony 15316

Los Angeles :  Sony Corporation has reached an agreement with the estate of Michael Jackson to acquire the interest of the late King of Pop in their joint music business for $750 million. The terms of the deal call for Sony to pay $733 million for Jackson's 50 percent stake in Sony/ATV Music Publishing, as well as previously announced distributions, with payments totalling $750 million, reports variety.com.

Sony Corporation chief Kaz Hirai used the announcement to reiterate Sony's commitment to holding on to its entertainment assets. "The entertainment businesses have long been a core part of Sony and are a key driver of our future growth," Hirai said in a statement.

"This agreement further demonstrates Sony's commitment to the entertainment businesses and our firm belief that these businesses will continue to contribute to our success for years to come." Sony/ATV Music Publishing, established in 1995 as a joint venture between Sony and Jackson, touts itself as the world's leading music publisher.

The companies said in a joint release on Monday that the sale is the culmination of a process that began in September when Sony exercised its right to purchase the other partner's interest - a right that has existed since the joint venture was formed by Jackson and Sony in 1995. The parties expect to reach a definitive agreement by March 31, and the closing is subject to certain conditions, including regulatory approvals.  (IANS)

Viewed 221 times
  • SHARE THIS
  • TWEET THIS
  • SHARE THIS
  • E-mail
You might also want to read

Our Media Partners

app banner

REVOLUTIONARY ONE-STOP ALL-IN-1 MARKETING & BUSINESS SOLUTIONS

  • Digital Marketing
  • Website Designing
  • SMS Marketing
  • Catalogue Designing & Distribution
  • Branding
  • Offers Promotions
  • Manpower Hiring
  • Dealers
    Retail Shops
    Online Sellers

  • Distributors
    Wholesalers
    Manufacturers

  • Hotels
    Restaurants
    Entertainment

  • Doctors
    Chemists
    Hospitals

  • Agencies
    Brokers
    Consultants

  • Coaching Centres
    Hobby Classes
    Institutes

  • All types of
    Small & Medium
    Businesses

  • All types of
    Service
    Providers

FIND OUT MORE