The closing of the transaction is subject to certain closing conditions, including regulatory approvals. This transaction had no material impact on Sony’s consolidated results for the fiscal year ended March 31, 2016. Sony is currently evaluating the impact on its consolidated financial results for the fiscal year ending March 31, 2017.
The Estate noted that the transaction will not affect its continuing substantial interests in other music assets, including all ofMichael Jackson’s master recordings as well as Mijac Music, the publishing company that owns all of the songs written byMichael Jackson as well as songs by some of his favorite songwriters and artists that were acquired by Michael during his life. In addition, the Estate will also retain its ownership interest in EMI Music Publishing.
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