Bertelsmann in control of BMG
Saturday 02 March 2013
The German media giant Bertelsmann is buying out its joint-venture partner in music-publishing company BMG, thereby giving it full control of a catalogue boasting one million songs by artists including Bruno Mars, Duran Duran and Frank Ocean.
The private-equity group KKR will receive more than £500m for its 51 per cent stake in the business, which manages a mixture of songwriters' copyright and artists' performing rights.
BMG was built up through a string of deals in the industry and includes the former Chrysalis music-publishing business.
Bertelsmann's chief executive Thomas Rabe plans an acquisition spree to make his company more international, funded by selling shares in RTL, the broadcaster whose output in Britain includes Take Me Out, Britain's Got Talent and Celebrity Juice. He is also merging his book arm, Random House, with Penguin.
- 1 Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
- 2 Frank Lampard equalises for Manchester City against Chelsea: how Twitter reacted
- 3 Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
- 4 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 5 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
350 skinny dippers brave Northumberland seas for record attempt at mass naked swim
Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Jennifer Lawrence leaked 4Chan sex video branded 'fake' by forum users
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Scotland could still declare independence – even without referendum, says Alex Salmond
iJobs Money & Business
£80 - 100k + Bonus: Guru Careers: A COO / Chief Operating Officer is needed to...
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...