Mubadala, Sony deal for EMI gets approval

U.S. Federal Trade Commission approves deal for EMI Music Publishing.
A new era of music.
A new era of music.

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Mubadala, as part of a Sony-led consortium, got the Federal Trade Commission's approval for the purchase of EMI Music Publishing, without having to make any divestitures, Reuters reported citing a FTC statement.

U.S. antitrust regulators gave the nod to the $2.2 billion deal in a brief letter to the companies, saying that upon review they found no reason for further action.

Sony, with Blackstone Group LP, Abu Dhabi's Mubadala Development Co, Raine Group and music and film mogul David Geffen, won the bidding for EMI Publishing last year in a deal that will put Sony on top in global music publishing. The agreement will give Sony the rights to about 3 million songs.

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