Sony BMG Posts 1st Quarter Losses, Sony Looks to Buy Out BMG

Sony BMG Music Entertainment lost $49 million on sales in its first fiscal quarter. Over the same period last year, the company had a net income of $21 million. The company's three best sellers this year have been Usher's Here I Stand, Leona Lewis' Spirit and Neil Diamond's Home Before Dark. While all three debuted atop the Billboard album charts in their first week, none of the three have managed to crack the platinum mark. Despite the losses, Sony is reportedly seeking to buy out the remaining 50% stake it doesn't own in the company from German company Bertelsmann. The buy out could be complete by early August, as Bertelsmann has come down on their price from $1.2-1.5 billion to roughly $920 million.

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Song Stories

“Smells Like Teen Spirit”

Nirvana | 1991

"Smells Like Teen Spirit," named after a brand of deodorant marketed to girls, was Kurt Cobain's attempt to "write the ultimate pop song," he said, using the soft-loud dynamic of his favorite band, the Pixies. Cobain "had that dichotomy of punk rage and alienation," the song’s producer, Butch Vig, told Rolling Stone, "but also this vulnerable pop sensibility. In 'Teen Spirit,' a lot of that vulnerability is in the tone of his voice." Sadly, by the time of Nirvana's last U.S. tour, in late '93, Cobain was tortured by the obligation to play "Teen Spirit" every night. "There are many other songs that I have written that are as good, if not better," he claimed.

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