Universal and Sony Buy EMI for $4.1 Billion

Record company splits in two

One of Britain’s most famous record companies, EMI, has been bought in two deals with Sony and Vivendi’s Universal Music. The company will now be split into two divisions. Universal bought EMI’s recorded music group for $1.9 billion on Friday, while a group headed by Sony picked up EMI’s music publishing division for $2.2 billion. The combined value of the deals was $4.1 billion.
EMI was previously owned by Citigroup. It is home to acts such as Coldplay, Katy Perry, and, crucially, The Beatles.

The New York Times says EMI’s breakup “completes the biggest shift in music’s corporate structure in almost a decade.”

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in