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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.

 

Full Content: Billboard

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