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SonyBMG Partnership To Disband

Ending their joint venture

SonyBMG Partnership To Disband
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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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