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Sony's purchase of EMI Publishing approved by the FTC

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The FTC has just approved Sony's planned purchase of a portion of EMI Publishing, a huge music group that holds the rights to hundreds of songwriters and their catalogs.

EMI Publishing
EMI Publishing

The FTC has just approved Sony's planned purchase of a portion of EMI Publishing, a huge music group and formerly one of the "big four" record labels that holds the rights to hundreds of songwriters and their catalogs. This deal has been in the works for some months — the sale was announced back in November, with Universal and Sony both purchasing parts of the company. Sony's $2.2 billion buyout was approved by the European Union back in April; with the FTC now on board, Sony's part of the deal should be wrapped up reasonably soon. The same can't be said for Universal, whose $1.9 billion buyout of the rest of EMI is still under investigation by the EU