Sony agrees to buy Bertelsmann's 50% stake in Sony BMG Music

NEW YORK —
Sony Corp and Germany’s Bertelsmann AG jointly announced Tuesday that Sony will make Sony BMG Music Entertainment, their U.S. 50-50 joint venture, into a wholly owned subsidiary by purchasing Bertelsmann’s entire stake.
Sony Chairman and Chief Executive Officer Howard Stringer said, “This acquisition will allow us to achieve a deeper and more robust integration between the wide-ranging global assets of the music company and Sony’s products...It enables us to offer a total entertainment experience to consumers.”