EMI Music Publishing to become a consolidated subsidiary of Sony.

Sony has announced that it will be paying $2.3 billion to acquire Mubadala’s 60% equity interest in EMI Music Publishing. When the transaction is complete, Sony will indirectly own approximately 90% of the equity interest in EMI Music Publishing.

EMI Music Publishing, which owns or administers over 2 million songs by artists like Queen, and Carole King, to more contemporary stars such as Pharrell Williams, Sia, and Drake, was valued at $4.75 billion, including debts of $1.359 billion, and will be a consolidated subsidiary of Sony.

As reported by Reuters, Sony Corporation President and CEO Kenichiro Yoshida spoke at a news conference and called the investment in content intellectual property “a key stepping stone for our long-term growth…”

15% of the music publishing industry is currently owned by EMI, combine this with what Sony/ATV Music Publishing owns and the Japanese conglomerate becomes the industry leader with a market share of around 26%, according to a company spokesman.

Sony’s looking to generate over 2 trillion yen (~$18 billion) over the next three years, up by over a third from the previous three years. The financial targets for the fiscal year ending March 2021 show the largest contributors to income are expected to be the games, music, and semiconductor businesses.

Operating income for Sony’s semiconductor side of business, of which image sensors are a part, are expected to rise to 160 billion to 200 billion yen (~$1.454 billion to $1.818 billion) for the fiscal year ending March 2021.

Not limiting the sensors’ application to mobile phones but instead, extending its use into the automotive industry was something that Yoshida spoke about.

On the games and network services side of business, operating income is expected to drop from 190 billion yen (~$1.727 billion) from this year to somewhere between 130 billion yen and 170 billion yen (~$1.182 billion and $1.545 billion.)

John Kodera, Sony Interactive Entertainment President and CEO, wants to spend the next three years in preparation for what he wants to do with the PlayStation business. As reported by The Wall Street Journal, Kodera said: “We will use the next three years to prepare the next step, to crouch down so that we can jump higher in the future…”

The PlayStation Plus service has various subscription packages that include monthly free games and access to online multiplayer, with reportedly 34 million subscribers, as of March. Though this proves to be a steady source of revenue in contrast to the volatile sales of software and hardware, Kodera talked about the PlayStation platform and its network services and how they affect future products.

“We need to depart from the traditional way of looking at the console life cycle,” explained Kodera. “We’re no longer in a time when you can think just about the console or just about the network like they’re two different things.”

Currency conversions are a close approximation.