Publishing giant Bertlesmann looks set to sell-off its 50% stake of Sony BMG.
According to Bloomberg's business site, Sony Corp. is excepted buy out the BMG half of the company from Bertlesmann as early as the next four weeks.The German based publisher is said to be asking between $1.2 million and $1.5 million for their stake in the company.
The deal to buy out the other half was struck back in the merger of 2004. Either company had until August 2009 to buy out the other side.
Bertlesmann is believed to be disillusioned with the decay of the major labels in the music business and wants out. The company has made it known that it wants to concentrate on media services, instead of the lagging compact disc business.
Sony is trying to drive its business model towards mobile phones, in recognition that the phone is quickly becoming a music listening device.
