Spotify's public listing means likely windfall for Sony Music [Seeking Alpha]
SONY CORP (SNE)
Last sony corp earnings: 10/31 04:02 pm
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Source: Seeking Alpha
Spotify's public listing means likely windfall for Sony MusicWith Spotify (SPOT) having filed togo public via direct listing, Sony Music (NYSE:SNE) isready to cash in alongside the company's founders.Sony Music has 5.7% of Spotify's shares; at a recent valuation of around $20B, that would make Sony's stake worth $1.1B -- not that much smaller than those of founders Daniel Ek ($1.9B at that valuation) and Martin Lorentzon ($2.5B).Tencent (OTCPK:TCEHY) holds 7.5%, even more than Sony Music, and Tiger Global holds 6.9%. But Sony is the only music label in those firms' 5%-plus company.Click to subscribe to real-time analytics on SNENow read:Naspers Limited: Currency Risk - ZAR Or HKD »
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