Bertelsmann considering selling stake in Sony BMG

Bertelsmann considering selling stake in Sony BMG

German media group Bertelsmann is reported to be considering selling their 50% stake in the music industry giants Sony BMG. This would also include their wholly owned music-publishing arm.

This is said to be because the company wants to avoid a stock market listing in the future. Half of their stake in the Sony BMG group is expected to be taken over by Groupe Bruxelles Lambert. The net worth of Bertelsmann’s share in the group and its publishing arm is estimated to be worth around $3.5-$4 billion.

Media group The Financial Times reported that the plans for selling this stake are still in their early stages and Bertelsmann has asked investment bankers to prepare for such a deal. None of the involved parties has commented on these rumors floating in the market.

Bertelsmann Chief Executive Gunter Thielen just recently had said in a statement that they were happy with their involvement in the Sony BMG group and their stars including Kelly Clarkson and Bruce Springsteen.