Sony Corp. was considering the sale of its
music-publishing business, including a partnership with Michael Jackson’s estate that owns the Beatles catalog, as recently as
last month, e-mails released by hackers show.
The “top secret” plan was being handled in the U.S. by
Sony Entertainment Chief Executive Officer Michael Lynton, Sony
Corp. of America President Nicole Seligman and their U.S. Chief
Financial Officer Steve Kober, according to an Nov. 21 e-mail
from Kober. The company had concluded the business had few
growth prospects.
Top management at Tokyo-based Sony was concerned about the
complex ownership and governance of the business, whose owners
also include billionaire David Geffen and Abu Dhabi investors.
Details of the sale plan, including possible terms or suitors,
couldn’t be determined. The documents were released as part of
the cyber-attack on Sony over the movie “The Interview.”
Publishing accounts for 14 percent of Sony’s music revenue, the
main part being recorded music.
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