Reuters – Sony, BMG in Bid for Parlophone
Sony Corp. is joining with BMG to bid for Parlophone and other EMI labels on sale by Universal Music, reuniting Sony and Bertelsmann four years after they ended their music joint venture, the Financial Times said on Monday. Vivendi-owned Universal is being forced to sell Parlophone to satisfy regulators' concerns about its $1.9 billion purchase of EMI's recorded music business. Sony and BMG, a music rights management group owned by Bertelsmann and private equity group KKR, plan to split the assets and will not form another joint venture, Reuters wrote.
7 January 2013•1 min read
