Sony Acquires Remaining 25.1% Interest in Nile Acquisition LLC from the Estate of Michael Jackson
Jul 31, 2018
On July 30, 2018 (U.S. Eastern Daylight Time), Sony Corporation of America (“SCA”), Sony Corporation’s (“Sony”) wholly-owned subsidiary, acquired from the Estate of Michael Jackson (the“Estate”) the 25.1% interest in Nile Acquisition LLC (“Nile”) held by the Estate (the “Acquisition”). As a result of the Acquisition, Nile will become a wholly-owned subsidiary of Sony. Nile owns an approximately 40% equity interest in D.H. Publishing, L.P., which owns and manages EMI Music Publishing (“EMI”). Accordingly, EMI will also become a wholly-owned subsidiary of Sony upon the completion of SCA’s acquisition of the approximately 60% equity interest in EMI owned by the investor consortium led by Mubadala Investment Company, as previously announced in press releases on May 22, 2018 and June 29, 2018. A total of 287.5 million U.S. dollars was paid to the Estate for the Acquisition, which payment also includes reimbursement of various expenses and costs related to the Acquisition.
The Acquisition is not expected to have a material impact on Sony’s forecasts for its consolidated financial results for the fiscal year ending March 31, 2019.
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For further information: Corporate Communications & CSR Department Sony Corporation Sony.Prhq@jp.sony.com