Done Deal: Sony Finally Acquires BMG's Half of Joint Venture
October 1, 2008 at 3:32 PM (PT)
SONY CORPORATION has just finalized its acquisition of BERTELSMANN's 50% stake in SONY BMG, which was first announced on AUGUST 5th, 2008. The new entity will be called SONY MUSIC ENTERTAINMENT INC. (SMEI), as a wholly owned subsidiary of SONY CORPORATION OF AMERICA.
SMEI is comprised of music labels such as: ARISTA RECORDS, COLUMBIA RECORDS, EPIC RECORDS, J RECORDS, JIVE RECORDS, RCA RECORDS and ZOMBA.