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Sony to acquire EMI music publishing for nearly $2 billion

Sony Corp. headquarters in Tokyo, Japan.
Sony Corp. headquarters in Tokyo, Japan. Kazuhiro Nog/AFP/Getty Images

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.