Sony BMG is no more, as Sony has finally reacquired the 50% share of the company owned by Bertelsmann. Sony had sought the buy out since July, when the company posted a first quarter loss. Sony now has complete ownership of its music division and has rebranded itself Sony Music Entertainment Incorporated (SMEI). Sony reportedly spent $600 million on the buy back. As one of the four major labels, Sony was responsible for roughly 24.1% of the album market share in the past nine months. Epic Records, J Records, Columbia, Jive, Zomba and Arista are among the labels under the Sony umbrella.
Related Stories:
• Sony BMG Posts 1st Quarter Losses, Sony Looks to Buy Out BMG
• Clive Davis Steps Down as Head of BMG Music
• Photo Gallery: Rare Images Taken at Columbia's 30th Street Studios
To read the new issue of Rolling Stone online, plus the entire RS archive: Click Here
-
MOVIES 'Star Trek' Is Crazy Good
-
POLITICS No Price Big Banks Can't Fix
Picks From Around the Web
blog comments powered by Disqus
We may use your e-mail address to send you the newsletter and offers that may interest you, on behalf of Rolling Stone and its partners. For more information please read our Privacy Policy.
Most Popular
Photos & Videos
Random Notes: Hottest Rock Pictures











