Sony/ATV Music Publishing acquiring Famous Music from Viacom

Sony/ATV Music Publishing acquiring Famous Music from Viacom

Media company Viacom Inc. has confirmed in a statement that they are indeed selling their Famous Music publishing unit to Sony/ATV Music Publishing.

The deal is said to be worth around USD 400 million and includes $370 million in cash and debt of $30 million.

Famous Music label has a catalog of around 125,000 songs. Their sound cues include music from popular artists including Eminem and Shakira.

They also have the soundtracks of massively successful movies like “The Godfather” and “Mission Impossible”.

Incidentally, this is also the first major move announced by recently appointed Sony/ATV Chief Executive Martin Bandier.

Sony/ATV said that as per the terms of the deal they would enter the production music business through the Famous Extreme division.

Sony/ATV Chief Executive Martin Bandier spoke on their decision to acquire Famous Music: “The depth and breadth of the catalogue is what truly makes it great.”