Marty Bandier has inked a new deal with Sony/ATV. The news comes amid ongoing speculation about the future ownership of the publishing giant, which began when Sony Corp. activated a buy/sell clause last year.
Bandier, who had previously built EMI Music Publishing into a powerhouse, took the reins at Sony/ATV in 2007 and spearheaded its acquisition of EMI in 2011-12.
While Sony/ATV won't comment on the term of the deal or compensation, some reports put it at three years and valued at as much as US$7m per year.
The exec counted himself “thrilled” to continue working with his Sony/ATV team. “Since my arrival, we have become the No. 1 music publisher and I am proud to say we represent many of the world’s best-loved songs alongside some of its greatest songwriters,” he declared.
“I would like to thank Sony and John Branca and John McClain, the co-executors of the Estate of Michael Jackson, for their support and confidence in me, and I am looking forward to sharing many more successes with them over the next few years,” he added.
Michael Lynton, CEO of Sony Entertainment Inc. said: “Marty Bandier is a legend in the music industry, and we are thrilled that he will continue his work at Sony/ATV.
“Since he first joined in 2007, the company has reached amazing heights, and we expect that it will continue to flourish under his guidance.”
John Branca and John McClain said: “Renewing Marty’s relationship with Sony/ATV avails the Estate of his enormous creative and executive talents as we strategically and profitably meet the challenges of our evolving business.”
- Source: Hits Daily Double