Information AboutSony Bmg |
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Sony BMG Music Entertainment is the result of a 50/50 Joint Venture between Sony Music Entertainment (part of Sony ) and BMG Entertainment (part of Bertelsmann ) completed on August 5 , 2004 . It is one of the Big Four music companies, and includes ownership and distribution of Recording Labels such as Arista Records , Columbia Records , Epic Records , J Records , RCA Victor , RCA Records , Sonic Wave America and others. Financial analysts covering the merger anticipated that up to 2000 jobs could be cut as a result, saving Sony BMG approximately $ 350 million annually. The company's Chief Executive Officer (CEO) is Rolf Schmidt-Holz , who succeeded Andy Lack on February 10, 2006. In the first half of 2005 , the company's share of new releases in the United States (US) declined from 33% to 26% according to Nielsen SoundScan . This, and Lack's negotiation of what some called an "ill-conceived" deal with Bruce Springsteen led to Bertelsmann informing Sony that it would not renew Lack's contract. Lack now holds the position of Chairman of the Board, the position formerly occupied by Schmidt-Holz. CONTROVERSY
FUTURE OF THE MERGER On March 27, 2006, the '' New York Times '' reported that Bertlesmann was in talks with Sony to possibly alter the current venture. Two executives close to Sony BMG have said that Bertlesmann may offer Sony its half of the company in order to raise money by leveraging some of its media assets. Executives close to Sony BMG have stressed that any such agreement will likely take months to conclude. {Link without Title} LIST OF SONY BMG LABELS
JAPAN In Japan, Sony's and BMG's respective Japanese subsidiaries continue to operate independently of each other due to the strength and size of the former's Japanese recorded music business. {Link without Title} REFERENCES |
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