Sony is spending more than $2 billion to take control of a major music publishing company that owns the rights to songs by artists like Kanye West and Alicia Keys. The Japanese company already held a minority stake in EMI, whose catalog contains more than 2 million songs from music legends including Frank Sinatra and David Bowie. The new deal will leave Sony owning about 90% of EMI, cementing its position as the world's biggest music publisher. In 2016, it took control of Sony/ATV, a music publishing joint venture, by buying a 50% stake from Michael Jackson's estate. Related: How will Apple create its media empireBringing in the EMI catalog will increase Sony's music library to about 4.5 million songs.

Source: CNN May 22, 2018 03:56 UTC