As the dust settles on the $2.2 billion sale of EMI Music Publishing to an investor group led by Sony, Jon Platt, a former EMI executive who is one of the most successful and powerful figures in urban music, is joining Warner/Chappell, the publishing arm of the Warner Music Group.
Mr. Platt - widely known as Big Jon - will be president of creative, and will report to Cameron Strang, Warner/Chappell's chief executive, the company announced. In 17 years at EMI, Mr. Platt signed some of the biggest names in R&B and hip-hop, like Jay-Z, Kanye West, Usher, Drake and Ludacris. EMI has a particularly strong lineup of songwriters in urban music genres.
Mr. Platt, 47, left EMI in late June, shortly after Son y's deal was completed, and his destination had been the subject of frequent speculation. One scenario had him joining Roc Nation, the joint venture between Jay-Z and Live Nation Entertainment. It was considered unlikely, however, that he would return to EMI and be reunited with Martin N. Bandier, his former boss at EMI, who is now the chairman of Sony's publishing branch, Sony/ATV.
Sony's deal for EMI Publishing was one of two reached last November by Citigroup, which acquired EMI after its previous owner, the private equity firm Terra Firma, defaulted on a loan. The other deal was the Universal Music Group's $1.9 billion bid for EMI's record labels.
Universal's deal has been under rigorous review by European regulators for most of the year. To appease regulators concerned that Universal would have too much market power - in some European countries, it would control more than half the market, according to most estimates - Universal has offered to sell large piec es of EMI.
As part of Universal's deal to buy EMI, the company agreed to pay Citi about 90 percent of the price by Monday - 10 months after reaching the original deal - regardless of the status of regulatory approval. According to a person briefed on the deal, who spoke anonymously because the deal has not been made public, that payment was made last week.
Last month, Universal offered to sell EMI assets in Europe worth as much as two-thirds of the company's annual revenue there. To meet further demands by the commission, Universal recently agreed to include the worldwide rights to those labels, which include Parlophone, one of EMI's oldest labels and the home of acts like Coldplay, according to two people briefed on the deal. (Recording rights to Parlophone's biggest name, however, the Beatles, will not be sold.) The size of the divestment package is unclear, but may exceed $500 million.
The European Commission's final decision is due Sept. 27, although it could come as early as next week.
In the United States, Universal's deal for EMI is still under review by the Federal Trade Commission, which has not said when it will issue its decision, although many expect it to come after the European Commission's decision is announced.
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