Sony BMG stays on playlist
EmptyBertelsmann CFO Thomas Rabe was blunt: "There are no specific plans to sell our share in Sony BMG."
In an interview Tuesday, Rabe and Bertelsmann CEO Hartmut Ostrowski discussed the future of the German media giant's partnership with Sony in the major record label group.
Ostrowski offered a handful of scenarios. "We might take over 100% or sell our 50% to Sony so that they have 100%, or we might continue the joint venture," he said. "All three outcomes are possible."
Bertelsmann and Sony's five-year retention period for the joint venture is set to expire in summer 2009.
"However, that doesn't mean that we then have to really do anything," Rabe said. "In the meantime, we will continue to develop our business jointly."
Wolfgang Spahr is Billboard's Germany bureau chief.