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Article: Bertelsmann shopping its share in Sony BMG, sources say.
- Article from:
- Daily News (New York, NY)
- Article date:
- March 28, 2006
CopyrightCOPYRIGHT 2006 Daily News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Phyllis Furman
Mar. 28--Bye bye beyonce, Usher, and J. Lo.
German media giant Bertelsmann is looking to ditch its 50 percent interest in music giant Sony BMG in an effort to raise some quick cash.
Bertelsmann has approached Sony about unwinding their partnership in the world's second biggest music label, sources said yesterday.
If a deal gets done, Bertelsmann could get between $2 billion and $2.5 billion for its share of Sony BMG, whose artists include Beyonce, Celine Dion, Bruce Springsteen, Jennifer Lopez and Usher.
Bertelsmann spokeswoman Liz Young and Sony spokeswoman Ann Morfogen declined to comment.
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