Acquisition of 300 Entertainment (Tables)

3 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below presents (i) the preliminary estimate of the acquisition consideration as it relates to the acquisition of 300 Entertainment and (ii) the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date of December 16, 2021 (in millions):

	Preliminary Purchase Price Allocation
Cash and equivalents	$	2
Accounts receivable	10
Royalty advances	35
Property, plant and equipment, net	1
Goodwill	127
Intangible assets subject to amortization, net (a)	233
Other assets	1
Accounts payable	(4)
Accrued royalties	(7)
Accrued liabilities	(1)
Total purchase price allocated	$	397

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(a)Identifiable intangible assets are comprised of the following (in millions):

	Total
Recorded music catalog	$	135
Artist and songwriter contracts	82
Trademarks	11
Music publishing copyrights	5
Total intangible assets acquired	$	233