Sony Music acquisition of EMI Publishing which gives Sony the publishing rights to the output of hundreds of songwriters is set to be approving by the European Commission for $2.2 billion, reports The Financial Times. The deal results in Sony grabbing market share to around 25-30 percent. The deal still has to go a long way, have to be passed by regulators in the US, Australia, and Brazil before going ahead, and when complete will be worth around $25 million in revenue each year to Sony.
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