Sony To Buy Bertelsmann's Sony BMG Stake For $900 Million
Bertelsmann will sell its 50% stake in Sony BMG to Sony in a $900 million deal, the companies announced Tuesday, giving the Japanese company full ownership of the joint venture whose roster of artists include Alicia Keys and Leona Lewis. A statement released by the privately held Bertelsmann said the new company will be called Sony Music Entertainment Inc. and become a wholly owned subsidiary of Sony Corp. of America. The joint venture was created in August 2004.
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