Bertelsmann Escalates Talks To Exit Sony-BMG
June 2, 2008 at 5:24 AM (PT)
GERMAN media group BERTELSMANN plans to intensify talks to exit its SONY-BMG music joint venture with JAPAN's SONY, the NEW YORK TIMES reported on MONDAY, citing people with knowledge of the negotiations.
The newspaper quoted BERTELSMANN CEO HARTMUT OSTROWSKI as declining to comment on the future of the joint venture, but saying that BERTELSMANN would remain an international player in media.
Both OSTROWSKI and MARKUS DOHLE, the new head of BERTELSMANN's U.S. book-publishing subsidiary RANDOM HOUSE, come from the media group's services division, ARVATO.
"There's no doubt we will continue to build our media businesses," OSTROWSKI told the newspaper in an interview. "We are, and will continue to be, a media company."
On the music business, OSTROWSKI said: "The good thing is, more people are listening to music than ever before."
He added: "The bad thing is, it is not easy to monetize it."