Source Black America Web
“I think this is a very smart move on United’s part to compete,” said Henry Harteveldt, founder of travel-industry consulting firm Atmosphere Research Group. Because it’s in Los Angeles, the airline may be going after VIP travelers in the entertainment industry, who value privacy, Harteveldt added.
The Private Suite includes dedicated security and customs screening away from the hoards in the main terminals, as well as individual suites.
The two parties have inked a legally binding memorandum of understanding (“MOU”) for the sale of a Mubadala-led consortium’s 60% equity interest in EMI Music Publishing to Sony Corporation of America.
The deal values EMI Music Publishing at $4.75 billion.
The closing of the transaction is subject to certain closing conditions, including regulatory approvals.
If the sale goes through, Sony will assume EMI Music Publishing’s existing gross indebtedness, which was approximately $1.359bn as of March 31, 2018.
As a result of the transaction, Sony will indirectly own approximately 90% of the equity in EMI Music Publishing – with the remaining 10% owned by the Jackson Estate – and it will become a consolidated subsidiary of Sony.
Kenichiro Yoshida, President and CEO, Sony Corporation said: “We are thrilled to bring EMI Music Publishing into the Sony family and maintain our number one position in the music publishing industry. I would also like to convey my gratitude to Mubadala, our equity partner in EMI Music Publishing, for sharing our long-term perspective on the potential success of music publishing and their support as we grew the business.