A PYMNTS Company

EU/US: Media giant finalizes takeover of own successful music startup

By  |  April 2, 2013

Media conglomerate Bertelsmann has officially finalized its takeover of BMG, an international firm for music rights, after antitrust authorities in the US, Germany, Austria and Ireland have all approved of the deal. Bertelsmann will buy the 51 percent share in BMG from Kohlberg Kravis Roberts & Co. According to a member of the Bertelsmann board, the company will look to increase BMG’s revenues by $641 million in the next several years and expand its presence throughout Asia and Latin America. Bertelsmann founded BMG in 2008.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Billboard

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.