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Is Sony Parting Ways With Its Music Publishing Division?

Is Sony Parting Ways With Its Music Publishing Division?
You’ve probably heard it all these past few weeks.Sony hack this… Sony hack that… Scintillating, I know. Well, a new report on the latest leak of hacked Sony e-mails has uncovered a possible consideration, on the part of Sony, to sell off the music publishing division of the firm. The Bloomberg report states that the details of such a sale were being discussed between Sony Entertainment CEO Michael Lynton, Sony Corporation of America President Nicole Seligman, and Sony Corporation of America EVP and CFO Steve Kober. The three addressed concerns raised by Sony CFO Kenichiro Yoshida regarding the “complex capital and governance structure…and impact of the market shift to streaming [services]” of the music publishing division.

Further details of the purported sales plan, including possible buyers, are currently unknown. However, if all of its publishing assets were put up for sale, inside industry intel has deemed it unlikely that Universal Music Group, a rivaling publishing label, would be to make such an acquisition, as it would be shot down by EU regulators. On the same token, Warner Music Group would also face similar regulatory obstacles if it attempted to acquire Sony’s publishing assets. More likely suitors would be private equity firms or a major player in the film industry like BMG or Disney. But for now as Sony keeps quiet on the matter, it is all up in the air and up for interpretation. Stay tuned as this story continues to unfold.

H/T: Billboard

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