EMI sells music unit to Universal & Sony Corp for $4.1bn

Universal Music Group and Sony Corp. have concluded negotiations on the acquisition of EMI Group’s music unit for a combined sum of $4.1 billion. The deal would see the London-based outfit split into two operations, with the recorded music division heading to Universal for $1.9 billion and the publishing division being taken on by Sony for $2.2 billion. Universal, being the world’s largest music company with a global market share of 27%, would be adding EMI’s share of around 9%, further increasing he distance between themselves and second placed Sony Corp.