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- Sony Corp. and German multi-media company Bertelsmann AG have finalized the merger of their music units to form Sony BMG Music Entertainment this week. The new company becomes the second largest record company in the world behind the Universal Music Group.
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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
The merger affected all Sony Music and Bertelsmann Music Group companies worldwide except for Japan, where it was felt that it would reduce competition in that country's music industry significantly. Financial analysts covering the merger anticipated that up to 2,000 jobs would be cut as a result, saving Sony BMG approximately $ 350 million ...
- August 6, 2004; 19 years ago
- Joint venture (Delaware general partnership)
- David Gordon (chairman, Sound & Vision)
The joint venture between Sony and Bertelsmann to merge both companies' music divisions was set up in August 2004. It reduced the Big Five record companies to the Big Four record companies . At that time, the company had a 21.5% share in the global music market.
- 1929; 94 years ago (RCA Victor), 1958; 65 years ago (Ariola Records)
- Bertelsmann Stiftung, (1987–2008)
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 ...
Feb 2, 2007 · The European Commission has opened its re-examination of the merger between Sony Corp. and Bertelsmann’s music units, seven months after an EU court threw out their approval.
Jul 19, 2004 · The European Union has approved the merger of Sony Music and Bertelsmann AG’s BMG unit in a deal that gives the four “majors” control of about 80 percent of the world music market, a...
Aug 6, 2004 · August 6, 2004. Sony Corp. and German multi-media company Bertelsmann AG have finalized the merger of their music units to form Sony BMG Music Entertainment this week. The new company...