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Sony’s deal with Jackson estate shows “clear and emphatic” support for Sony/ATV, says Sony/ATV chief

By | Published on Thursday 17 March 2016

Sony/ATV

OK, everybody, here is your task for the day. Can you think of a “clearer or more emphatic way” for Sony Corp to show support for its global music publishing business than buying the Michael Jackson Estate out of said company?

What if the big bosses made it so that every Sony-produced TV show and movie only ever synced in Sony/ATV published songs? What if they told their Japan-based music publishing unit to stop insisting it needs to be separate from the global music publishing business, and just let itself be absorbed by US-based Sony/ATV? What if they made it so that anyone playing ‘Guitar Hero’ on the PlayStation Network saw a daily alert that said “why don’t you actually learn to play the guitar properly, and then buy some sheet music from our friends at Sony/ATV”? What if the Sony Corp board back in Tokyo were to hold hands every single morning and sing a suitably uplifting rendition of ‘Hey Jude’?

No, I think Marty Bandier is probably right, I can’t think of “a clearer or more emphatic way for Sony Corporation to show its support” for its music publishing business than it spending $750 million to acquire the Jackson Estate’s 50% of the Sony/ATV company. “This outcome is very positive news for Sony/ATV and everyone who works [here]”, added the publishing major’s CEO, and “it demonstrates [Sony Corp’s] absolute faith in our company and recognises the terrific job we are doing”. Oh, I wouldn’t go that far.

Anyway, Sony/ATV chief Bandier has sent a memo to the music publishing giant’s workforce following the news earlier this week that Sony Corp has agreed to pay $750 million to buy the Jackson Estate out of the joint venture songs business that began when Sony and the then king of pop merged their respective publishing assets in the mid-1990s. The two parties had been reviewing their joint venture since last year after a ‘buy-sale’ provision in their existing agreement was activated, meaning either side could buy the other out.

“I know the last few months have created some uncertainty since the buy-sale process was announced last October”, Bandier added in his memo, after all that stuff about emphatic ways, absolute faith and terrific jobs. “I cannot be prouder of the way everybody has continued to do their jobs in a professional and diligent manner and ensured that it really has been business as usual during this time. With the announcement this week we can now fully focus on the future. I said at the time when the buy-sale process began our best years are still ahead of us and this deal has only confirmed that”.

Though don’t be thinking Bandier’s apparent glee with this deal is all about seeing the back of the men and women running the Michael Jackson Estate. “I would also like to take this opportunity to thank the Estate and particularly John Branca, John McClain and Karen Langford for all their support and input over the years of the joint venture”, he added. “They will always be an important part of the Sony/ATV legacy”. Though, of course, the Estate will retain its stake in the EMI Music Publishing catalogue, which Sony/ATV administrates, so he can’t just say “so long suckers, I hate you all”.

“Sony/ATV is and remains the world’s leading music publisher”, Bandier went on to conclude. “And these past twelve months have been another great year both creatively and financially for the company. For those of you working in New York there has already been the fresh start over the last few weeks of moving into tremendous new offices and we will also have a brand new home in Los Angeles later in the year. There will be much to look forward to this year as we take the first steps in this exciting new era”.

Good times all round. Perhaps now they could start work on sorting out that database.



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