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Sony completes acquisition of Now! EU stake

Tim Ingham
Sony completes acquisition of Now! EU stake

Sony Music Entertainment has completed its purchase of EMI Music's European rights to Now! That's What I Call Music! from Universal Music Group (UMG).

The purchase, which was originally announced in February, was subject to regulatory approval in Europe, which has now been granted.

UMG retains its pre-existing rights to the highly-successful compilation series in Europe and acquires EMI  Music's rights outside of Europe.

The purchase follows the approval of UMG's £1.2bn acquisition of EMI Music by the European Commission in September last year.

Sony Corp's combined Music divisions this week posted a $396m operating profit for the 12 months to March 31, 2013.

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Tags: universal, emi, Now That's What I Call Music, Sony Music, Now!

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