Sony says the move is aimed at investing in image sensors over the next three years.
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Electronics and entertainment company Sony Corp. said Tuesday it plans to spend $2.3 billion acquiring an additional 60 percent stake in EMI Music Publishing, home to the Motown catalog and contemporary artists like Kanye West, Alicia Keys and Pharrell Williams. Sony already owns 30 percent of EMI, so once the purchase from Mubadala Investment Co. is finalized, it will own 90 percent of the company, CEO Kenichiro Yoshida said in a news conference at Sony's headquarters.Outlining the company's revamped strategy to strengthen both its hardware and its creative content, Yoshida said Sony plans to invest 1 trillion yen ($9 billion) mostly in image sensors over the next three years.Yoshida said the initiative to beef up Sony's content was also behind a deal announced earlier this month to acquire a stake in Peanuts Holdings, the company behind Snoopy and Charlie Brown.
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