{"id":2515,"date":"2013-01-10T00:00:00","date_gmt":"2013-01-10T00:00:00","guid":{"rendered":"http:\/\/skylight.gr\/administrator_wordpress\/index.php\/2013\/01\/10\/bmg-rejoins-with-sony-for-parlophone-records-bid\/"},"modified":"2013-01-10T00:00:00","modified_gmt":"2013-01-10T00:00:00","slug":"bmg-rejoins-with-sony-for-parlophone-records-bid","status":"publish","type":"post","link":"https:\/\/skylight.gr\/index.php\/2013\/01\/10\/bmg-rejoins-with-sony-for-parlophone-records-bid\/","title":{"rendered":"BMG Rejoins With Sony For Parlophone Records Bid"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-1079\" src=\"http:\/\/skylight.gr\/administrator_wordpress\/wp-content\/uploads\/2011\/11\/sony_music.jpg\" border=\"0\" width=\"160\" height=\"160\" \/><br \/>Sony Music is again partnering with Bertelsmann&#8217;s BMG, this time in a bid for Parlophone Records and a number of other EMI properties put on the block by Universal Music. Parlophone is one of the crown jewels from EMI and the label has a roster that features artists such as Coldplay, David Guetta, The Beastie Boys, Lady Antebellum and Sigur Ros.  <!--more-->  <\/p>\n<p>The two companies had jointly owned the major music group Sony BMG from 2002-2008. According to the Financial Times, they are now hoping hoping that the joint venture will make their bid more competitive. If successful, they will evenly divide Parlophone&#8217;s assets between the two companies.<\/p>\n<p>The sale of Parlophone is one of the divestments required by EU anti-trust regulators to approve Citigroup&#8217;s $1.2 billion sale of EMI to Universal last year. According to sources, the Sony\/BMG venture is one of about a dozen potential bidders for the label. Other interested parties contemplating bids include, Warner Music, as well as an groups of private equity investors led by Ronald Perelman and Simon Fuller.<\/p>\n<p>Warner, which itself was recently acquired by Len Blavatnik\u2019s Access Industries, aggressively bid for EMI&#8217;s recorded music and publishing operations last year and the company has since hired Rob Wiesenthal, a former Sony executive as their chief operating officer to help facilitate the deal.<\/p>\n<p>Ironically, starting in 2004, both Sony and BMG were involved in a four-year joint venture Sony-BMG. Originally heralded as a way to save the two companies about $350 million a year, the company&#8217;s new releases slipped precipitously in the U.S., leading Sony to buy out BMG&#8217;s share of the of the joint venture in 2008 for $1.2 billion.<\/p>\n<p>Source: Hyperbot<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sony Music is again partnering with Bertelsmann&#8217;s BMG, this time in a bid for Parlophone&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[23],"tags":[],"class_list":["post-2515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-music-news"],"_links":{"self":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/posts\/2515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/comments?post=2515"}],"version-history":[{"count":0,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/posts\/2515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/media\/1079"}],"wp:attachment":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/media?parent=2515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/categories?post=2515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/tags?post=2515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}