Sony has announced that it will disband its joint venture with BMG, ending their four-year partnership.
Sony Corp has agreed to purchase Bertelsmann’s 50 percent share in their Sony BMG venture for approximately $900 million. They will also receive $300 million of the cash on the Sony BMG balance sheet, having the deal value at approximately $1.2 billion.
The music company will now be called Sony Music Entertainment Inc (SMEI).
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