Sony Buys Bertelsmann's 50% Stake In Sony BMG For $1.2B

As expected, Sony and Bertelsmann AG have reached an agreement that has Sony buying Bertelsmann’s 50% stake in Sony BMG for $1.2 billion.



The music company will be called Sony Music Entertainment Inc. and will become a wholly owned subsidiary of Sony Corporation of America. Sony Corp and Bertelsmann AG originally created the Sony BMG joint venture in August 2004. Details about the financials are here (PDF).