Report: Sony BMG Wants Publishing Division
May 14, 2007 at 5:45 AM (PT)
SONY BMG plans to re-enter music publishing, reversing the antitrust-related spin-offs of SONY's and BMG's music publishing arms before the pair merged reports THE FINANCIAL TIMES. SONY BMG CEO ROLF SCHMIDT-HOLTZ told FT DEUTSCHLAND, the FINANCIAL TIMES's sister paper, "We will do everything to re-enter the market for music publishing."
SONY BMG is the only one of the world's four leading music companies that does not own a music publishing division. Before BMG and SONY merged in 2004, both companies had their own music publishing businesses. They sold them before the deal to remove an antitrust threat to the merger.
According to SCHMIDT-HOLTZ, the focus will be on SONY BMG establishing its own capacities, but the company was also considering acquisitions. "We do not necessarily have to make acquisitions, but they can absolutely make sense," he said. "Our shareholders see that a music company that has a music publishing business is more attractive."