Bertelsmann Ag And Sony Corporation Agree To Form Joint Music Group

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Christmas
New York, Guetersloh, November 6, 2003 - The international media and entertainment companies Bertelsmann AG and Sony Corporation today announced that they have signed a non-binding letter of intent to form a jointly owned recorded music company to be called Sony BMG. The company will be 50% owned by Bertelsmann and 50% owned by Sony.

The joint venture of BMG and Sony Music Entertainment will combine their recorded music businesses. The new company would not include the companies' music publishing, physical distribution and manufacturing businesses.

Rolf Schmidt-Holtz, currently Chairman and Chief Executive Officer of BMG, would serve as Chairman of the Board of the new joint venture. The Board of Directors of the new company would be made up of an equal number of representatives from Sony and Bertelsmann.

Andrew Lack, Chairman and Chief Executive Officer of Sony Music Entertainment, would be Chief Executive Officer. The newly formed joint venture would include senior executives from both music groups.

Consummation of the transaction remains subject to a number of conditions, including approvals of the regulatory authorities in the US and the European Union.

http://www.bmg.com/
 
They are getting smaller. They used to be 5 now they are 4. And they're all singing the same mantra - the internet is killing us. I think it is a sign of the beginning of the end.
 
Bigger in size, smaller in numbers.

Remember, the bigger you are the harder you fall. 4 humongous corporations will fall harder than 5 large corporations.
 
I think it is time to exclude all mp3artists who don't provide music.
 

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This last thing is proposed from Magicmusic at cnet and clearly explained in dutch. Please feel free to download that image and use it as support for the idea.
 
I would never support Magicmusic unless you came out with something better than "Bombay" (which shouldn't be really difficult to do).
 
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