Next time you hear "Hey Jude," this man -- who just stood up to Apple and its iPhone 5 -- makes money.
Talk about coming full circle. After taking EMI Music Publishing from fourth place in market share to first during a 17-year run as the company's chief executive, then exiting to run second-ranked competitor Sony/ATV in 2007, Martin Bandier, 71, is back to helm the house he helped build. It was a pricey reunion and required purchasing EMI Publishing for $2.2 billion, a bill footed by an investment consortium that includes Sony/ATV, the estate of Michael Jackson, the Blackstone Group's GSO Capital Partners and David Geffen. But with it, Bandier buys a safer bet -- namely, the ability to monetize music rights without being drained by a record company burdened with the costly task of breaking new acts (EMI was split in two, with its recorded music arm sold to Universal Music Group in September).
Subscribe now to read the full article
- Read The Hollywood Reporter on any mobile device
- Email complete articles to clients or colleagues
- Interactive Radio: listen to the topics or headlines that interest you
- RSS Feed: read in a timely manner with easy to find content
- Read Offline: locate issues and articles easily at any time, no internet connection needed
Already a Subscriber? Log In
- MOST SHARED
- MOST POPULAR