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Sony Buys Out Bertelsmann, Ending Sony BMG

October 2, 2008 9:00 AM ET

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

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Song Stories

“Stillness Is the Move”

Dirty Projectors | 2009

A Wim Wenders film and a rapper inspired the Dirty Projectors duo David Longstreth and Amber Coffmanto write "sort of a love song." "We rented the movie Wings of Desire from Dave's brother's recommendation, and he had me go through it and just write down some things that I found interesting, and they made it into the song," Coffman said. As for the hip-hop connection, Longstreth explained, "The beat is based on T-Pain. We commissioned a radio mix of the song by the guy who mixes all of Timbaland's records, but the mix we made sounded way better, so we didn't use it."

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