AfterDawn: Tech news

Bertelsmann to sell its Sony BMG stake to Sony?

Written by Andre Yoskowitz (Google+) @ 11 Jun 2008 16:53 User comments (1)

Bertelsmann to sell its Sony BMG stake to Sony? 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.

More news

Previous Next

Related news

 

1 user comment

111.6.2008 18:53
nobrainer
Inactive

Why bother to sign to any of the big 4 (riaa) when you can sign to Merlin and actually own all your work. the riaa's stealing days are over and Bertelsmann knows this. Bertelsmann are the proverbial rats leaving the ship that has just been sank by the pirates, which is what the riaa would make us all believe, but actually people are waking up and realising, that all the big 4 do is exploit musicians and peddle garbage to the masses simply to line their own pockets for the next 150 years until the copy-write, they (riaa) created expires, does anyone know any artists that have lived that long?

Virtual fifth major Merlin now as big as "real" labels

Quote:
Merlin isn't a "real" label in the sense that it doesn't do business the same way. The group negotiates licensing arrangements on behalf of its members so that small labels can get the benefits of a more sizable organization, but Merlin does not take any control of copyrights and does not do marketing and promotion.


This message has been edited since its posting. Latest edit was made on 11 Jun 2008 @ 18:55

Comments have been disabled for this article.

News archive