(MENAFN) Japan's Sony was announcing to be making a purchase agreement for EMI Music Publishing, acquiring a library of 2.1 million songs.
Sony confirmed that it was set to make a USD2 billion purchase for around 60 percent equity interest from a consortium which has Mubadala Investment Co. as its lead.
The company currently owns nearly 40 percent of EMI, however it had been negotiating a deal to acquire the library for the past few month.
CEO Kenichiro Yoshida declared "we are thrilled to bring EMI Music Publishing into the Sony family and maintain our number one position in the music publishing industry."
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