FT Deutschland is reporting that Bertelsmann is trying to sell its 50% stake in Sony BMG for $1.5 billion over the next 4 to 6 weeks, but may
only get $1.2 - $1.3 billion. FTD's unamed source says talks are “well
advanced”.
Bertelsmann’s revenue from Sony BMG fell 27% to €1.5 billion in 2007 which in part came from the sale of their publishing company. A recent 40% increase in digital music sales has not been enough to counter the 17% slide in CD sales last year. Industry wide declines are hovering around 16% for 2008.
via PaidContent
