The manufacturer of electronic products from Japan, Sony Electronics, has won a patent from the European Commission to buy ownership rights from music recording company, Sony BMG. Sony has agreed to buy the shares Bertelsmann, a unit of Sony BMG, around 50 percent in a joint venture worth 900 million USD. Sony said that Bertelsmann will also get cash $300 million from financial Sony BMG, with total deal about USD 1.2 billion.
Sony, which has joined with Sony BMG, estimated the company will become the second largest new music after Vivendi, Unit Universal, with the name of Sony Music Entertainment Inc. (SMEI), all rights of ownership will be held by Sony Corporation of America. more…