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Thursday, July 9, 2009

Bertelsmann is back in the music business

After getting out of its label partnership with Sony in 2008, Bertelsmann Music Group (BMG) is returning to the music biz—this time via the catalog business. When it dissolved the Sony-BMG group, it kept the BMG Rights Management division. Now, American investment firm Kohlberg Kravis Roberts will invest nearly $350 million over the next five years into a new joint venture that will possess the capital to pursue publishing treasures such as the Abkco catalog owned by the late Allen Klein. Bertelsmann is also reviving the old label name, BMG.

Tags: BMG

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