Sony will become the sole owner of Sony BMG after it buys out Bertelsmann's 50% stake in the company, which will be rebranded as Sony Music Entertainment Inc. (My prototype for the new company's logo is at left.) The sale's rumored value? $1.5 billion. Yes, with a "B." [
Reuters]
Three months after closing the deal to buy EMI, the British equity group Terra Firma is looking to lessen its equity stake in the troubled record label. CEO Guy Hands is also exploring other cash-saving opportunities such as selling off the label's physical distribution business and outsourcing packing and shipping. [
NYP]
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