BMG sold to Vivendi Universal

As to be expected Bertelsmann completed a large sale, since they need the cash after they spent 4.5 bln EUR to buy back a 25% stake from the Groupe Bruxelles Lambert (GBL) in May this year.

This is of course the end of an era for Bertelsmann, whose name was associated with both its book clubs and its music label (Sony) BMG.

The sale brings in 1.6bln EUR and transfers the rights of more than 1 million songs. Ex-BMG stars are e.g. Christina Aguilera and Robbie Williams.

Also resolved are the legal issues with regard to BMG’s purchase of Napster.

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