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Aug 6, 2008 · Sony on Tuesday agreed to buy Bertelsmann out of Sony BMG, giving the Japanese electronics group control of the world’s second largest record company for an initial $600m while allowing the...
- Gwen Robinson
Sony on Tuesday agreed to buy Bertelsmann out of Sony BMG, giving the Japanese electronics group control of the world’s second largest record company for an initial $600m while allowing the...
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Sep 30, 2008 · New York, October 1, 2008 – Sony Corporation today announced that it has completed the acquisition of Bertelsmann’s 50% stake in Sony BMG, which was originally announced on August 5, 2008. The music company, to be called Sony Music Entertainment Inc. (SMEI), is now a wholly owned subsidiary of Sony Corporation of America. SMEI is comprised ...
Aug 5, 2008 · (Reuters) - Sony agreed to buy out Bertelsmann's 50 percent of Sony BMG on Tuesday, ending a four-year music joint venture that never managed to beat the woes of an industry in decline.
The transaction will be structured as follows: First, a portion of Bertelsmann’s interest in SONY BMG will be redeemed for approximately $600 million of cash by SONY BMG (SONY BMG has not been consolidated by Sony and will not be consolidated until after this transaction closes).
An EU court has overturned the European Commission's approval of the merger between the music divisions of Sony and Bertelsmann, forcing the companies to apply again.
SAN FRANCISCO (CBS.MW) - Sony Music Entertainment and Bertelsmann AG said late Thursday that they've completed their merger, creating one of the world's...
