Bertelsmann Music Group
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|Fate||Assets sold to |
|Defunct||1 October 2008|
Bertelsmann Music Group (abbreviated as BMG) was a division of German media company
The joint venture with Sony Music was set up in August 2004. It reduced the Big Five record companies to the
On 27 March 2006, the New York Times reported that Bertelsmann was looking to raise money by leveraging some of its media assets, and that executives from both companies were in talks about possibly altering the current venture. Bertelsmann sold its 50% share of Sony BMG to Sony Corporation of America for a total of $1.5 billion, and the company was renamed back to Sony Music Entertainment Inc.
While officially withdrawing from the business of recorded music, Bertelsmann continued its strong presence in other areas of the
Also kept separate from the acquisition by Sony Corporation of America was Sony BMG's wholly owned and operated BMG Japan.