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发表于 2010-6-15 23:56:46
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Sony/ATV音乐出版公司情况(part2):
本帖最后由 飞扬清婉 于 2010-6-16 00:01 编辑
Acquisition
By the mid-1980s, ATV Music Publishing and Pye Records were both up for sale. The companies were bought relatively cheaply by Australian businessman Robert Holmes à Court, who asset-stripped them and sacked many long serving employees, before selling them on again.During this time, American singer Michael Jackson was recording "Say Say Say" for Paul McCartney's Pipes of Peace album. Jackson stayed at the home of McCartney and his wife Linda during the recording sessions, becoming friendly with both. One evening whilst at the dining table, McCartney brought out a booklet displaying all the songs to which he owned the publishing rights. He explained that music publishing was a way to make big money. Jackson replied by telling McCartney that he would buy The Beatles' songs one day. "Great. Good joke", McCartney laughed.
Shortly afterward, John Branca, Jackson's attorney, advised the singer that the Northern Songs catalogue was up for sale. Warned of the competition he would face in buying such popular songs, Jackson remained resolute in his decision to purchase them.Branca approached McCartney's attorney to query whether the Beatle was planning to bid. The attorney stated he wasn't; it was "too pricey". McCartney had previously attempted to purchase Northern Songs alongside John Lennon's widow, Yoko Ono in 1981 for $20 million; the pair would each pay $10 million. Ono refused as she thought it was too high a price. Not wanting to spend the $20 million himself, McCartney let the sale fall through.After months of negotiating, Branca closed the deal and purchased Northern Songs on Jackson's behalf for $47.5 million.
In an analysis of the acquisition, Los Angeles Times noted that if "Yesterday" were to earn $100,000 a year in royalties, the Lennon estate and McCartney would divide 50% of the income; $25,000 each. The publisher, Jackson, would receive the other 50%; $50,000. It was added that "Yesterday" in particular would earn considerably more than $100,000 a year. The publisher would also control the use of the song in films, commercials and stage productions.Jackson went on to use the Beatles' songs in numerous commercials, feeling that it would enable a new generation of fans to enjoy the music. McCartney, who himself had used the Buddy Holly song catalogue in commercials, felt saddened. Privately, Jackson was reported to have expressed exasperation at McCartney's attitude; he felt that the musician should have paid for the songs he had written.At the time, McCartney was one of the richest entertainers in the world, with a net worth of $560 million and a royalty income of $41 million.Jackson stated, "If he didn't want to invest $47.5 million in his own songs, then he shouldn't come crying to me now".
Ono was pleased that Jackson had acquired Northern Songs and called it a "blessing".Speaking in November, 1990, Ono stated, "Businessmen who aren't artists themselves wouldn't have the consideration Michael has. He loves the songs. He's very caring."She added that if she and McCartney were to own the songs, there would certainly be arguments. Ono explained that neither she or McCartney needed that. "If Paul got the songs, people would have said, 'Paul finally got John'. And if I got them, they'd say, 'Oh, the dragon lady strikes again'".
Merger
After Jackson's acquisition of ATV Music Publishing, his record label, CBS, were negotiating the sale of their record division in an unrelated deal. Following hurriedly arranged meetings and disagreements over the selling price, a deal was sealed by Jackson during a concert in Tokyo.Upon seeing the success of this sale, Japanese corporation Sony sought to break away from its core business of hardware manufacturing and diversify into music, films and games. Looking for further opportunities, the company aimed to expand its music publishing interests. The Japanese corporation offered Jackson $90 million for 50% of ATV Music Publishing in 1995.Jackson gladly accepted; he had essentially acquired half ownership of the Beatles' songs for a large profit. Jackson's own songs were not included in the deal. Having been merged, the company was renamed Sony/ATV Music Publishing and became the third largest music publisher in the world. Michael P. Schulhof, President and CEO of Sony, welcomed the merger and praised Jackson for his efforts in the venture. "Michael Jackson is not only the most successful entertainer in history; he is also an astute businessman. Michael understands the importance of copyrights and the role they play in the introduction to new technologies." He added that Jackson recognises Sony's "leadership in developing and realizing new technologies that serve to expand the creative horizon of artists such as himself".Administrative expertise was provided by Sony, who installed Paul Russell as chairman. Jackson was a company director and attended board meetings regularly. As each party in the arrangement held the power of veto, both sides would have to agree on a decision before it could be made. If neither party agreed on a decisions, they would not be implemented.
Recent history
In May 2001, Jackson denied rumours that he was planning to sell the Beatles' song catalogue. Rumours had circulated that the singer was to sell them in order to finance the upkeep of Neverland Ranch and to cover legal bill expenses.The singer announced in a statement, "I want to clarify a silly rumour - the Beatles catalogue is not for sale, has not been for sale and will never be for sale." Sony/ATV Music Publishing continued to acquire song catalogues in the 21st century. In November 2001, the company signed country singer Tony Martin to an exclusive songwriting and co-publishing deal. Through the deal, they acquired Martin's Baby Mae Music catalog of 600 songs, which includes Joe Diffie's "Third Rock from the Sun" and Jeff Carson's "Not on Your Love". In July 2002, Sony/ATV Music Publishing bought veteran country music publisher Acuff-Rose for $157 million. The venture included music publishing rights to 55,000 country music songs, including the music of Hank Williams, The Everly Brothers and Roy Orbisonas well as the master recordings of the defunct label Hickory Records. Sony/ATV revived Hickory Records as the in house record label imprint in 2007, with distribution handled by Sony Music's RED Distribution. Sony/ATV also owns the masters of Dial Records, Four Star Records and Challenge Records.
Digital sheet music provider Musicnotes.com announced in June 2006 that they had signed a long-term distribution agreement with Sony/ATV Music Publishing. Musicnotes.com would produce and sell digital sheet music and guitar tablature for songs from Sony/ATV's extensive catalog. "As a music publisher, we are always looking for new and innovative ways to promote our songs and songwriters", Sony/ATV chairman and chief executive David Hockman announced in a statement.Another company acquisition was made in 2007, when Famous Music, a music publishing business with song catalogue of more than 125,000 songs including "Moon River" and "Footloose", was sold to Sony/ATV Music Publishing. The deal, sought by Viacom, included the assumption of around $30 million of debt. The company purchased the business for $370 million. The song catalogue also includes the hits of Eminem, Akon, Linda Perry, Bjork, Shakira and Beck.
Following Jackson's death in June 2009, it was revealed that Sony/ATV Music Publishing would keep control of the Beatles' songs.Upon his death, Jackson's entertainment attorney, Joel Katz, commented on the singer's work as a businessman. "Michael Jackson was a perfectionist and his business affairs are worldwide. Many of them are quite ongoing and will be dealt with appropriately."Ivan Thornton, a private-wealth adviser who worked with Jackson and his family, also commended the business side of the musician. "His business mind was fascinating. We’d go to meetings with bankers and Wall Street people and once I explained the language to him, he totally got it. There was no formal education there, but his natural knack was off the charts."
Value
The value of Sony/ATV Music Publishing has varied in reports. In 2002, Forbes magazine estimated Jackson's 50% stake in the company, along with other music publishing ventures, to be worth $450 million.The organisation was valued at $700 million in 2003.Industry experts valued the catalogue at between $600 million and $1 billion in 2004, based on the sales of rival catalogues. Charles Koppelman, a veteran music industry executive, stated that $1 billion was more reflective of Sony/ATV Music Publishing's worth."Buyers would be lining up around the block if it were ever put up for sale", he said. "And I'd be in the front of the line." The value of the company was further estimated by Ryan Schinman, chief of Platinum Rye, to be $1.5 billion
In 2005, Jackson's defense attorney, Thomas Mesereau, revealed that the song catalogue had been valued at between $4 billion and $5 billion.The company's song catalogue is believed to generate up to $80 million a year; The Beatles' hits alone bring in $30 million to $45 million a year. Jackson's other publishing firm, Mijac, which publishes songs written by Jackson himself and which is administered by competitor Warner/Chappell Music, is valued to be worth at least $75 million. |
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