Of course, this will do nothing to resolve Sony’s schizophrenia about what business it’s really in: content or electronics — but it does show which personality is currently calling the shots there: Viacom to sell music publisher — pdf
As part of the deal, Sony/ATV will be entering the production music business through the Famous Extreme division.
[…] Publishing has become one of the more coveted segments of the music industry as recorded music has been hit by piracy. It has been affected by consumers’ relatively slow transition to buying digital songs to make up for the downturn in CD sales.
Publishing is less vulnerable to the vagaries of music retailing, generating revenue by licensing songs to a variety of users, including television, advertising, radio and live performance.
This month, French media giant Vivendi’s Universal Music Publishing Group unit became the world’s largest music publisher after it bought BMG Music Publishing in a $2.19-billion deal.
Related: Comedy Business Turns to the Web