The European Commission (EC) today gave the green light to the acquisition of the publisher EMI Music Publishing by Sony Corporation of America, subsidiary of the Japanese Sony in the United States, when concluding that the operation does not raise conflicts of competence.
In particular, Brussels said in a statement that the purchase will not increase the power of Sony in the market against Internet platforms.
Since 2012, EMI is owned by Sony and Mubadala Investment Company, an investment fund of the United Arab Emirates.
In the operation now approved by Brussels, Sony acquires sole control over EMI, the EC said.
Since 2016, the subsidiary of Sony dedicated to the Sony / ATV music edition has been the exclusive administrator of the complete EMI catalog, with more than 2 million songs, while EMI is no longer in charge of transferring licenses to digital platforms for Use your music or sign contracts with artists.
The Executive of the European Union stressed that since Sony already has joint control of EMI with the Emirati investment fund, the transaction would not generate any increase in market share in any of the countries where both companies are active.
In May, the Japanese multinational Sony announced the purchase of some 2,000 million dollars (1,700 million euros) from EMI Music Publishing, an operation with which it seeks to consolidate its leadership in the music industry.
EMI Music Publishing has a catalog of more than 2 million songs by established artists such as James Blunt, Slipknot or DJ Avicii.
The announcement was the first major operation of the Japanese under the leadership of its new president and CEO, Kenichiro Yoshida, who took the reins of the company in April and was "delighted to incorporate EMI Music Publishing to the Sony family and maintain our number one position in the industry. "