Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Bertelsmann takes full control of BMG rights unit

Send a link to a friend

[March 02, 2013]  BERLIN (AP) -- Media group Bertelsmann AG is taking full control of the BMG music rights management business, buying the stake held by private equity company KKR & Co.

Bertelsmann said Friday that the two companies have agreed not to disclose financial details of the deal, which is subject to regulatory approval and expected to close in the first half of this year.

Bertelsmann says BMG administers the rights to 1 million songs, including music by Duran Duran, Johnny Cash, will.i.am and others. It says BMG, based in Berlin, is the world's fourth-largest music rights management business.

Bertelsmann, which is privately held, also owns European broadcaster RTL Group, book publisher Random House and magazine publisher Gruner + Jahr. So far, it held 49 percent of BMG, while KKR held 51 percent.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Civic

< Top Stories index

Back to top


 

News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor