Sony ready to sell its half of biggest music publisher

Sony could land $1 billion (£655 million) with the sale of its stake in the music publishing business it co-owns with the estate of pop legend Michael Jackson.

Sony and Michael Jackson had jointly owned the company since 1995 before Jackson’s death in 2009. Now, according to a new report, the two parties are in preliminary discussion to have one buy out the other.

Music industry veterans reportedly estimate Sony/ATV’s value at around $2 billion. Sony has informed the lenders about the exit clause. A Sony source says that they will “either become 100 percent owner or divest”, and that the upcoming meeting is “just the first step” in the process.

According to MBW analysis, Sony/ATV controls around 4m copyrights, including those it administers for EMI Music Publishing.

Sony plans to sell-out its 50 per cent stake in the company, which holds the rights of a few iconic artists like The Beatles, Elvis Presley, Michael Jackson, Taylor Swift, Bob Dylan, Bruce Springsteen, Hank Williams and Marvin Gaye, among others.

The move means Sony can either sell its half of the music- publishing business or buy the other half, said the people, who asked not to be named because the agreement is private.

Jackson had bought ATV a decade earlier from Australian businessman Robert Holmes a Court, outbidding Beatles singer Paul McCartney.