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Report: Sony in talks for majority stake in EMI Music Publishing

Sony Corp. has been in early discussions with Mubadala Investment Co. about a stake purchase that would give the Japanese company majority ownership of EMI Music Publishing, Bloomberg News reported March 12, citing people familiar with the matter.

The sources said that the Abu Dhabi-based sovereign fund is actively seeking potential buyers for its holding, with a valuation of at least $4 billion for EMI. That would be nearly twice the $2.2 billion that a Sony-led consortium paid to acquire the U.K.-based music publisher in 2012.

The Japanese electronics and entertainment company currently holds a stake of nearly 40% in EMI, which has a catalog of more than 2.1 million songs, according to the report.

Mubadala reportedly intends to use an option requiring Sony to buy its stake in order to keep all of EMI from going up for sale. However, that cannot be put into motion before the end of June.

In the meantime, Mubadala has been contacting more potential bidders such as other entertainment businesses to assess pricing, the report said. Two of the sources told Bloomberg News that Warner Music Group Corp. owner Len Blavatnik has expressed interest in EMI.

Both Sony and Mubadala declined to comment to Bloomberg News about the matter.