Thorn EMI to Buy the Rest of...

Thorn EMI to Buy the Rest of SBK Records: The company agreed to pay $31 million for the 50% interest it doesn’t already own. Thorn will buy the stake from the company’s founders and top executives, Charles Koppelman and Martin Bandier, for $26 million. It will also return the executives’ initial $5-million investment. In addition, Thorn will pay a share of future profits that could total $400 million to SBK Record Productions, a company owned by Koppelman and Bandier. Under the deal, Koppelman and Bandier will sign new employment contracts that extend until December, 1995.