Bertelsmann Bids Goodbye to Sony After Four Years
Sony and Bertelsmann said Tuesday that they would unravel their joint venture in music, ending a four-year partnership that has generated more dissonance than harmony.
Sony, based in Japan, will buy Bertelsmann’s 50 percent stake in the venture, Sony BMG Music Entertainment, for $900 million — substantially less than Bertelsmann, based in Germany, hoped it would command.
Behind the long-anticipated deal are two sharply divergent views of the future of recorded music.
For Sony, the acquisition represents a
For Bertelsmann, the deal represents a retrenchment from traditional media as it builds up its less-glamorous service businesses. The company will retain rights to 200 European artists, giving it a toehold in a field it once […]
Orginal post by Top Tech News
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