Sony to acquire EMI music publishing for nearly $2 billion

Japanese entertainment giant Sony plans to purchase 60% of music publishing firm and record label EMI for about U.S. $2 billion, reports Bloomberg.

Why it matters: Sony already owns about 40% equity interest in EMI, and this transaction would bolster Sony’s current position as the world's largest music publisher — EMI reportedly has a catalog of 2.1 million songs — and further expand its content and services.