Citigroup, Inc. (C: Quote) said Friday that it has completed the sale of EMI Music Publishing to an investor group comprised of Sony Corporation of America, the Estate of Michael Jackson, Mubadala Development Company PJSC, Jynwel Capital Limited, the Blackstone Group's GSO Capital Partners LP, and David Geffen, for a total consideration of $2.2 billion.
EMI Music Publishing, is a popular music publisher with a vast collection of musical compositions and a roster of highly talented songwriters. The business represents and administers a comprehensive and diverse catalogs of over 1.3 million music copyrights covering all genres, periods and territories of the world.
Citi, previously had entered into a definitive agreement with Vivendi and Universal Music Group for the purchase of EMI's recorded music division. This transaction is currently pending regulatory approvals.
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by RTT Staff Writer
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