.

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

To read the new issue of Rolling Stone online, plus the entire RS archive: Click Here

prev
Music Main Next
Daily Newsletter

Get the latest RS news in your inbox.

Sign up to receive the Rolling Stone newsletter and special offers from RS and its
marketing partners.

X

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.

Song Stories

“Vicious”

Lou Reed | 1972

Opening Lou Reed's 1972 solo album, the hard-riffing "Vicious" actually traces its origin back to Reed's days with the Velvet Underground. Picking up bits and pieces of songs from the people and places around him, and filing his notes for later use, Reed said it was Andy Warhol who provided fuel for the song. "He said, 'Why don't you write a song called 'Vicious,'" Reed told Rolling Stone in 1989. "And I said, 'What kind of vicious?' 'Oh, you know, vicious like I hit you with a flower.' And I wrote it down literally."

More Song Stories entries »
 
www.expandtheroom.com