Sony completes Bertelsman buy-out

The buyout deal between Sony and Bertelsmann in which the former company has acquired the latter’s 50 oer cent slice of Sony BMG was finally concluded today.

This deal means that Sony Corporation of America now completely owns Sony Music Entertainment as a subsidiary.

SMEI is comprised of premier music labels such as: Arista Records, Columbia Records, Epic Records, J Records, Jive Records, RCA Records, and Zomba. Key recording artists include Celine Dion, Alicia Keys, Yo-Yo Ma, Bruce Springsteen, Justin Timberlake, Usher and Jay Chou.

Music Week cites Sony Corporation chairman and CEO Howard Stringer said in an email to staff, “I am delighted to welcome each and every Sony BMG employee into the Sony family. I would also like to thank everyone who worked so hard on this complex transaction. We all look forward to a seamless and collaborative integration of the new Sony Music into the overall Sony Corporation organization.

“While this will inevitably be a time of transition, it is also a time that holds great promise for us all. I personally look forward to working with all of you as we continue to develop and transform the music company into an even more vibrant and innovative force in the entertainment industry.”

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