New York, July 30, 2018 – July 30, US Eastern Time, Sony Corporation (Sony), a wholly-owned subsidiary of Sony Corporation (hereinafter referred to as SCA), acquired the Michael Jackson Heritage Management Board (The Estate of Michael Jackson) 25.1% of Nile Acquisition LLC (hereinafter referred to as Nile). After the transaction, Nile will become a wholly-owned subsidiary of Sony. Nile owns about 40% of DH Publishing, LP (hereinafter referred to as DH Publishing), and DH Publishing owns Management of EMI Music Publishing (hereinafter referred to as EMI). Therefore, after the announcement of SCA's acquisition of approximately 60% of EMI's equity in the original Mubadala Investment Company, EMI will become a wholly-owned subsidiary of Sony after this acquisition. The acquisition of Sony paid a total of $287.5 million to the Michael Jackson Heritage Management Board, including reimbursement of various costs and costs associated with the acquisition.
The acquisition is not expected to have a material impact on Sony's consolidated financial year forecast results as of March 31, 2019.
(This article is translated from the original English text, for reference)
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