After 80 Years EMI Group sold off and split into Universal Music Group and Sony Corp.
So how did this deal go down exactly? Universal bought EMI's recorded music for $1.9 billion. Sony bought the publishing division for $2.2 billion. The publishing division sold for a bit more because it's considered more profitable than the recorded music. Since EMI is London based, antitrust regulators in both the U.S. and Europe have to go over this deal before approving it. A few famous artists part of EMI include Coldplay, Pink Floyd, Katy Perry as well as it being the home to The Beatles.
What does this mean for fans? Music is going to be tougher to find because now there are going to be three major companies, Universal Music Group, Sony Corp, and Warner Music Group, controlling the popular tunes.
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