Sony/ATV to acquire Viacom Music Publishing Unit

Sony/ATV, the music publishing company owed both by Michael Jackson and Sony, is growing…again! Check out this new article, “Viacom to Sell Music Publishing Unit”, from the Wall Street Journal below: Viacom to Sell Music Publishing Unit: WSJ Companies:Viacom, Inc. By Reuters | 30 May 2007 | 01:35 AM ET Viacom agreed to sell its Famous Music publishing business to Sony/ATV Music Publishing for about $370 million, the Wall Street Journal reported on its Web site on Wednesday. A deal is expected to be announced Wednesday, the paper said, citing unnamed sources. Viacom and Sony/ATV Music could not be reached immediately. Viacom said in February it was exploring the possible sale of the unit, which includes the music from contemporary hit artists Eminem and Shakira. Famous Music was founded in 1928 by the predecessor of its film studios, the Famous-Lasky, to publish music that accompanied its movies. Sony/ATV Music was formed in 1995 as a joint venture between Sony and trusts formed by pop star Michael Jackson. It owns or administers over 400,000 copyrights by such artists as the Beatles, Leonard Cohen, Neil Diamond and Bob Dylan. Source: http://www.cnbc.com/id/18664552