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In 1988 Sony Corporation acquired CBS Records for $2 billion and renamed the label to Sony Music Entertainment in 1991. CBS Inc. retained the rights to the CBS name. Sony introduced the Columbia label after it bought the international rights of the label from EMI . Epic Records is the other pop branch of Sony Records. In August 2004 , Sony Music Entertainment created a joint-venture with BMG to form Sony BMG Music Entertainment . In November 2005 , Texas Attorney General as well as the Electronic Frontier Foundation (a digital rights group based in California) separately filed civil lawsuits against Sony BMG Music Entertainment for hiding spyware software on its compact discs leaving computers vulnerable to hackers. Sony BMG may become known as simply Sony Music Entertainment should Sony purchase Bertlesmann's half of the venture. On March 27, 2006, the '' New York Times '' reported that Bertlesmann was looking to raise money by leveraging some of its media assets, and that executives from both companies were in talks about possibly altering the current venture. Two sources close to Sony BMG have suggested that Bertlesmann may offer Sony its half of the company, though executives have emphasized that any changes will likely take months to conclude. SEE ALSO |
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