The giant German conglomerate Bertelsmann is in talks with its partner Sony to sell Bertelsmann's half of the jointly owned music company Sony BMG back to Sony.
Each company has owned 50 percent of the music publishing firm since its launch in 2004 and Sony has the option to buy Bertlesmann's stake if it ever chooses to sell any or all of its stake.
So far spokespeople for both companies have declined to comment on the speculation.
The sources for the rumor also added that Bertelsmann CEO Hartmut Ostrowski has decided its time to move out of the music business, citing the spectacular fall of physical CDs sales.
In 2006, Bertelsmann sold the rights of BMG Music Publishing's catalogue to Vivendi and if this current deal goes through could end their run in the music business.
So far spokespeople for both companies have declined to comment on the speculation.
The sources for the rumor also added that Bertelsmann CEO Hartmut Ostrowski has decided its time to move out of the music business, citing the spectacular fall of physical CDs sales.
In 2006, Bertelsmann sold the rights of BMG Music Publishing's catalogue to Vivendi and if this current deal goes through could end their run in the music business.
Topics
MP3 & Digital Audio
