Bertelsmann Music ties up with Sony | News | Al Jazeera

Bertelsmann Music ties up with Sony

German media giant Bertelsmann is merging its music business with Japan's Sony in a new joint venture.

    The two are among the world's top five music companies

    Bertelsmann said in a statement on Thursday that its Bertelsmann Music Group (BMG) division and Sony Music would be 50-50 partners in the new venture, dubbed Sony BMG.

    The statement said the two companies had signed a "non-binding letter of intent" to that effect.

    The New York Times newspaper reporter earlier that a final deal on the merger could probably take months to complete while the companies sought approval from regulators.

    Sony Music, the world's second biggest music company, and BMG, ranked number five, have been trying to negotiate a deal since September.

    Together with other giants in the trade like Universal Music, Warner Music and EMI, Sony and Bertelsmann account for around 75% of the global music market.

    SOURCE: Agencies


    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    The State of Lebanon

    The State of Lebanon

    Amid deepening regional rivalries what does the future hold for Lebanon's long established political dynasties?

    Exploited, hated, killed: The lives of African fruit pickers

    Exploited, hated, killed: Italy's African fruit pickers

    Thousands of Africans pick fruit and vegetables for a pittance as supermarkets profit, and face violent abuse.