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Once upon a time in 2004 Bertelsmann Music Group (Known as BMG) bought a 50% share in Sony Music Entertainment. From that point on Sony was known as Sony BMG and they held a 21.5% share in the global music industry.

Today Bertelsmann and Sony released a statement saying that Bertelsmann would sell their 50% share in the company so Sony would have full ownership of the company again.

The $900 million deal is expected to be finalized by the end of the year.

In 2004 before the original deal was reached between Sony and BMG, the music industry had “big 5″ labels. After the deal, there were only 4.

Once the new deal is finalized with BMG, Sony will be comprised of many record companies including: Arista Records, Columbia Records, Epic Records, J Records, Jive Records, RCA Records, and Zomba.

Jeremy

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