Sony To Buy Bertelsmann's Sony BMG Stake For $900 Million

Bertelsmann will sell its 50% stake in Sony BMG to Sony in a $900 million deal, the companies announced Tuesday, giving the Japanese company full ownership of the joint venture whose roster of artists include Alicia Keys and Leona Lewis. A statement released by the privately held Bertelsmann said the new company will be called Sony Music Entertainment Inc. and become a wholly owned subsidiary of Sony Corp. of America. The joint venture was created in August 2004.

Read the complete story here.

Create a new thread in the Streaming Video & TVs forum about this subject
This thread is closed for comments
No comments
    Your comment