Japanese entertainment giant Sony on Tuesday announced a deal to acquire the music publishing firm and record label EMI for a price of around $1.9 billion.
Sony signed a deal with Abu Dhabi-based investment firm Mubadala to buy its 60 percent holding in EMI, giving the Japanese firm an indirect stake of approximately 90 percent, Sony said in a statement.
“We are thrilled to bring EMI Music Publishing into the Sony family and maintain our number-one position in the music publishing industry,” Sony boss Kenichiro Yoshida said in a statement.
He said the music business had “enjoyed a resurgence in the past couple of years” driven by subscription-based streaming services.
EMI is the second-largest music publishing company by revenue and either owns or holds the rights to 2.1 million pieces of music.
It either owns or administers some two million songs, including classics by the likes of Queen, Sam Smith, Pharrell Williams and Drake.
As for Sony, it already owns 2.3 million copyrights, including the Beatles catalogue.
The deal values EMI at $4.75 billion, the Sony statement said, adding that “the closing of the transaction is subject to certain closing conditions, including regulatory approvals.”
Sony will later Tuesday unveil its latest strategic plan under new CEO Yoshida, expecting to focus more on content than hardware.
The electronics and entertainment behemoth last month reported record annual profits worth $4.5 billion, a roaring recovery supported by better sales across the board and helped by box office blockbusters like its Jumanji reboot.
Those figures were seen as a fitting send-off for Kazuo Hirai, who recently stepped down as the firm’s chief executive after spending the past six years pulling the firm out of deep financial troubles.
Hirai led an aggressive restructuring drive at Sony, terminating thousands of jobs while selling business units and assets.
Investors appeared dubious about the acquisition, however, with Sony stock down around 0.6 percent in the first few minutes of trade, underperforming the wider Japanese market which was flat.
Dr Sid drops The Interesting EP
Nigerian singer and Mavin artiste, Sidney Esiri also known as Dr Sid has released his long-awaited EP titled “The Interesting EP” on Friday, May 8, 2020.
‘Interesting EP’ houses 5 solid tracks and features rapper, MI Abaga alongside, Don Jazzy, LadiePoe, and Eyango.
The EP was released as Mavin Records celebrated 8 years anniversary after it was established by Don Jazzy on May 8, 2012.
The label’s inception came to fruition following the closure of Mo’ Hits Records which was owned by the producer and D’banj.
The label is home to recording artistes such as Korede Bello, Dr SID, D’Prince, Di’Ja, Johnny Drille, Ladipoe, DNA Twins, Rema, and Crayon.
It also houses producers such as Jazzy himself, Altims, and Baby Fresh and in 2014, DJ Big N became the label’s official disc jockey.
Tiwa Savage, Wande Coal, Reekado Banks, and Iyanya were all formerly signed to the label.
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Roze’s ‘Ileke’ beats Simi’s ‘Duduke’, tops Nigeria iTunes songs
The latest single “Ileke” by the Nigerian US-based music duo, Roze has hit number one spot on the Nigeria iTunes top songs beating the likes of Simi’s “Duduke”, Adekunle Gold’s “Something Different” and even other international stars like Drake, Adele, Wiz Khalifa among others.
Roze, made up of two brothers, Row and Zuwa Agbonayinma dropped the single and video “Ileke” on all digital platforms on Tuesday, May 5, 2020 and it has since caught fire for its melodic rhythm, powerful vocals and enthralling beat. The title of the song “Ileke” simply means the African waist beads but beyond that, the duo explores the function of the ornament in relation to a woman’s bum and how it defines and accentuates it during dance.
After practically sending the social media into a meltdown with rendition of cover of Rema’s latest single “Beamer” in April, Row and Zuwa definitely are writing their own story of greatness with “Ileke,” shooting themselves to the top of the reef in less than 5 days of the release of the song.
The Top Ten songs on the Nigeria iTunes are Roze’s Ileke at number one, Simi’s Duduke at number two, followed by EESKAY’s Sanitize, Seun Moon’s Ileke, Ladipoe and Simi’s Know You, Natalie Taylor’s Surrender, Hanno’s No Doubt (Featuring Realzy), Sokid’s Away, Adekunle Gold’s Something Different and Mayorkun’ Of Lagos.
Ileke was produced by top producer, Mekoyo and the video was put together by Clarence Peters.
When the duo did a cover of Mavin’s Rema’s “Beamer” back in April the ovation for them was so loud even Don Jazzy himself had to commend them for the effort. Some people who saw the cover on Instablog9ja begged the Mavin’s boss to organise a remix of the song, collaborated between Rema and Roze.
The music duo, born Eghosa Rodney Agbonayinma (ROW) and Osazuwa Michael Agbonayinma (ZUWA) popularly known as Roze are children of politician and music lover, Hon Ehiozuwa Johnson Agbonayinma. They were born in Houston, Texas, January 11, 1998 and July 30, 1999 respectively.
Their other songs include like Too Much, All These Things, The Whole Night, Good things, Impressions, Stranded and Patience.
Roze is signed to U&I Music owned by their father
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