EMI Music Publishing Ltd. is a British
multinational music publishing
A music publisher is a type of publisher that specializes in distributing music. Music publishers originally published sheet music. When copyright became legally protected, music publishers started to play a role in the management of the intellect ...
company headquartered in
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
, owned by parent company
Sony Corporation of America
Sony Corporation of America (SONAM, also known as SCA), is the American arm of the Japanese conglomerate Sony Group Corporation
SONAM, headquartered in New York City, manages the company's US-based businesses.
Sony's principal U.S. business ...
.
In May 2018, Sony Music Publishing agreed to increase its stake in EMI to 90%, pending regulatory approval. Sony has agreed to pay $2.3 billion to acquire EMI, as well as assume EMI's debt of $1.359 billion. In July 2018, Sony bought out the
Michael Jackson
Michael Joseph Jackson (August 29, 1958 – June 25, 2009) was an American singer, songwriter, dancer, and philanthropist. Dubbed the "King of Pop", he is regarded as one of the most significant cultural figures of the 20th century. Over a ...
estate's 10% stake in EMI for $287.5 million. With Sony and Jackson's share valued at $1.091 billion that gives EMI Music Publishing a valuation of $4.75 billion. On 26 October 2018, the
European Commission
The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body ...
approved of Sony's acquisition of EMI. In November 2018, Sony Music Publishing completed its acquisition of EMI, which was completely merged into Sony Music Publishing. Following these transactions, Sony owned 100% of EMI Music Publishing.
EMI currently exists for the artists that it signed pre-2012, effectively becoming an in-name-only unit of Sony Music Publishing. EMI Music Publishing controls over 2 million songs; including the
Motown Records catalogue, and classic songs by
Carole King and
Queen
Queen or QUEEN may refer to:
Monarchy
* Queen regnant, a female monarch of a Kingdom
** List of queens regnant
* Queen consort, the wife of a reigning king
* Queen dowager, the widow of a king
* Queen mother, a queen dowager who is the mother ...
, along with contemporary releases by
Kanye West
Ye ( ; born Kanye Omari West ; June 8, 1977) is an American rapper, singer, songwriter, record producer, and fashion designer.
Born in Atlanta and raised in Chicago, West gained recognition as a producer for Roc-A-Fella Records in the ea ...
,
Blink-182
Blink-182 (stylized as blink-182) is an American rock band formed in Poway, California in 1992. Their current lineup consists of bassist/vocalist Mark Hoppus, guitarist/vocalist Tom DeLonge, and drummer Travis Barker. Though their sound has ...
,
Drake
Drake may refer to:
Animals
* A male duck
People and fictional characters
* Drake (surname), a list of people and fictional characters with the family name
* Drake (given name), a list of people and fictional characters with the given name
* ...
,
Pharrell Williams,
Sam Smith
Samuel Frederick Smith (born 19 May 1992) is an English singer and songwriter. After rising to prominence in October 2012 by featuring on Disclosure's breakthrough single " Latch", which peaked at number eleven on the UK Singles Chart, they ...
,
P!nk
Alecia Beth Moore Hart (born September 8, 1979), known professionally as Pink (stylized as P!nk), is an American singer, songwriter, actress and dancer. She was originally a member of the girl group Choice. In 1995, LaFace Records saw potential ...
,
Calvin Harris and
Sia
Sia Kate Isobelle Furler ( ; born 18 December 1975) is an Australian singer and songwriter. Born and raised in Adelaide, she started her career as a singer in the acid jazz band Crisp in the mid-1990s. In 1997, when Crisp disbanded, she rel ...
. EMI owns the recorded catalogue of
Philles Records
Philles Records was an American record label formed in 1961 by Phil Spector and Lester Sill, the label taking its name from a hybrid of their first names. Initially, the label was distributed by Jamie/Guyden in Philadelphia. In 1962, Spector pu ...
, with distribution handled by Sony's division
Legacy Recordings.
History
Founding
The origins of EMI Music Publishing date back to the
EMI Group
EMI Group Limited (originally an initialism for Electric and Musical Industries, also referred to as EMI Records Ltd. or simply EMI) was a British transnational conglomerate founded in March 1931 in London. At the time of its break-up in 2012 ...
's entry into music publishing in 1958 through the formation of Ardmore and Beechwood.
In 1969, EMI greatly expanded its presence in music publishing through the acquisition of
Keith Prowse Music for US$1.2 million in cash and 70,000 ordinary stock units.
[ In 1973, EMI acquired Francis, Day & Hunter Ltd. In 1973, EMI acquired Affiliated Music Publishers for US$8.75 million.][ In 1974, EMI renamed its music publishing division as EMI Music Publishing.] In 1976, EMI Music Publishing acquired the Aldon Music, Screen Gems and Colgems music libraries from Columbia Pictures
Columbia Pictures Industries, Inc. is an American film production studio that is a member of the Sony Pictures Motion Picture Group, a division of Sony Pictures Entertainment, which is one of the Big Five studios and a subsidiary of the mu ...
, making it a major publisher of film music. In 1989, EMI acquired SBK Entertainment, which included the CBS, MGM
Metro-Goldwyn-Mayer Studios Inc., also known as Metro-Goldwyn-Mayer Pictures and abbreviated as MGM, is an American film, television production, distribution and media company owned by Amazon through MGM Holdings, founded on April 17, 1924 a ...
, and UA musical catalogs. In 1990, EMI acquired Filmtrax, which included the Mills Music, Ivan Mogull, and Al Gallico catalogs.
In July 1997, Motown founder Berry Gordy
Berry Gordy III (born November 28, 1929), known professionally as Berry Gordy Jr., is a retired American record executive, record producer, songwriter, film producer and television producer. He is best known as the founder of the Motown record l ...
sold a 50 percent stake in the label's Jobete Music publisher to EMI for $132 million. In 2003, EMI bought an additional 30% stake in Jobete for $120 million, then the final 20 percent in 2004 for $80 million.
In July 1999, EMI acquired 40,000 copyrights from Fujisankei's Windswept Pacific publisher (including the Morris Levy
Morris Levy (born Moishe Levy; August 27, 1927 – May 21, 1990) was an American entrepreneur in the fields of jazz clubs, music publishing, and the independent record industry. Levy was cofounder and owner of Roulette Records, founding partner ...
songs) for $200 million.
In May 2011, EMI Music Publishing began bundling performance rights previously represented by ASCAP with mechanical and synchronization rights.
LBO by Terra Firma in 2007
In 2007, EMI agreed to be purchased by Terra Firma, a UK-based private equity, beating out Warner and others. The deal value was about $6.5 billion, including $4.7 billion for the shares listed in the London stock exchange, and about $2 billion of debt. The deal represented a very high multiple of EBITDA, meaning it added large debt to EMI.
After defaulting on its debt, Citigroup took over in early 2011 and weeks later announced that EMI would be split and sold off separately (music recording from the one hand, publishing on the other).
Acquisition by Sony and others in 2012
In November 2011, a consortium led by Sony
, commonly stylized as SONY, is a Japanese multinational conglomerate corporation headquartered in Minato, Tokyo, Japan. As a major technology company, it operates as one of the world's largest manufacturers of consumer and professiona ...
agreed to acquire EMI Music Publishing from Citigroup, the owners of the EMI Group, for US$2.2 billion. (EMI Records was sold separately.) The acquisition was approved by the European Commission
The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body ...
in April 2012, conditional upon the divestiture of the worldwide publishing rights to four catalogues - Famous Music UK, Virgin Europe, Virgin Music Publishing UK and Virgin US - and the musical works of 12 contemporary authors, including Bullet for My Valentine, Gary Barlow
Gary Barlow (born 20 January 1971) is an English singer, songwriter, record producer, and television personality. He is the lead singer of the British pop group Take That.
Barlow is one of the United Kingdom's most successful songwriters, havi ...
, Ben Harper
Benjamin Chase Harper (born October 28, 1969) is an American singer-songwriter and multi-instrumentalist. Harper plays an eclectic mix of blues, folk, soul, reggae, and rock music and is known for his guitar-playing skills, vocals, live perfo ...
, the Kooks, Lenny Kravitz, Ozzy Osbourne
John Michael "Ozzy" Osbourne (born 3 December 1948) is an English singer, songwriter, and television personality. He rose to prominence during the 1970s as the lead vocalist of the heavy metal band Black Sabbath, during which period he adop ...
, Placebo
A placebo ( ) is a substance or treatment which is designed to have no therapeutic value. Common placebos include inert tablets (like sugar pills), inert injections (like saline), sham surgery, and other procedures.
In general, placebos can af ...
(Famous Music), and Robbie Williams
Robert Peter Williams (born 13 February 1974) is an English singer and songwriter. He found fame as a member of the pop group Take That from 1990 to 1995, and achieved commercial success after launching a solo career in 1996. His debut stud ...
. Those catalogues, collectively known as "Rosetta", were acquired by BMG Rights Management in December 2012; the deal was finalized in May 2013. The acquisition was completed in June 2012 following receipt of necessary approvals from anti-trust regulators in the United States.
Sony, through its Sony Music Publishing unit, acquired about 30% of EMI Music Publishing. Still, it won the administration of the entire catalog, making Sony Music Publishing the largest music publishing administrator in the world. Other owners of EMI Music Publishing include Abu Dhabi wealth fund Mubadala, the Michael Jackson Estate, financial institutions, and billionaire David Geffen which grouped into DH Publishing Group (Partnership). The acquisition would put the Columbia-Screen Gems catalog back under common ownership with Columbia Pictures
Columbia Pictures Industries, Inc. is an American film production studio that is a member of the Sony Pictures Motion Picture Group, a division of Sony Pictures Entertainment, which is one of the Big Five studios and a subsidiary of the mu ...
, which had sold the rights to EMI in 1976.
Other developments
Jho Low, owner of Jynwel Capital, was charged by the US government in civil proceedings as part of the 1Malaysia Development Berhard (1MDB) scandal. The government attempted to seize Jynwel's stake in EMI Music Publishing, claiming it used illicit funds.
In July 2017, media reported that EMI Music Publishing was put up for sale.
In March 2018, Mubadala Investment Co., an Abu Dhabi sovereign wealth fund who was one of the buyers of EMI Music Publishing in 2012, has held talks with Sony and approached other possible buyers to sell its entire stake, according to the media. Mubadala was reportedly seeking a valuation of at least $4 billion, almost twice what the Sony-led group paid six years before.
In August 2018, the Independent Music Companies Association
The Independent Music Companies Association (IMPALA), originally the Independent Music Publishers and Labels Association, is a non-profit trade association established in 2000 to help European independent record labels represent their agenda a ...
(IMPALA) filed a complaint to the European Commission
The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body ...
, asking them to block Sony Music Publishing's full acquisition of EMI. Warner Music Group
Warner Music Group Corp. ( d.b.a. Warner Music Group, commonly abbreviated as WMG) is an American multinational entertainment and record label conglomerate headquartered in New York City. It is one of the " big three" recording companies and t ...
and BMG Rights Management, which both acquired parts of EMI and its publisher in 2013, have also objected to the acquisition. In October 2018, the British Academy of Songwriters, Composers, and Authors
The Ivors Academy (formerly the British Academy of Songwriters, Composers and Authors – BASCA) is one of the largest professional associations for music writers in Europe. The academy exists to support, protect, and campaign for the interests ...
also objected to the buyout.
Operations
As of May 2018, EMI Music Publishing included the publishing rights to over 2.1 million songs. Its day-to-day operations, including the administration of songs, are delegated to Sony Music Publishing.
Awards
EMI Music Publishing was named Publisher of the Year by ''Music Week
''Music Week'' is a trade publication for the UK record industry distributed via a website and a monthly print magazine. It is published by Future.
History
Founded in 1959 as '' Record Retailer'', it relaunched on 18 March 1972 as ''Music W ...
'' every year for over 10 years; in 2009, EMI tied with Universal Music Publishing
Universal Music Publishing Group (UMPG) is a North American music publishing company and is part of the Universal Music Group. It was formerly known as MCA Music Publishing until it merged with PolyGram.
Universal Music Publishing is the worl ...
for the award.
References
External links
*
{{DEFAULTSORT:EMI Music Publishing
EMI
Sony Music Publishing
Music publishing companies of the United Kingdom
Mass media companies based in London
British companies established in 1974
Mass media companies established in 1974
Publishing companies established in 1974
1974 establishments in England
2018 mergers and acquisitions
IFPI members