Sony to acquire rest of the share in Sony BMG
August 5th, 2008 Leave a comment Visited 21 times, 1 so far today
Sony to acquire rest of the share in Sony BMG
Confirming the reports in the media, Sony has announced that they are now going to acquire the rest of the stake in Sony BMG from joint venture partner Bertelsmann.
The company would now be called Sony Music Entertainment.
Sony Music Entertainment would work as a fully owned subsidiary of Sony Corporation of America.
The financial aspect of this deal has not been disclosed though market sources points at a figure of around $1.5 billion.
Sony and Bertelsmann had formed this joint venture company in August 2004.
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