Just when it seemed like speculation of a Sony-BMG split had cooled, billboard.biz is reporting that Bertelsmann is still considering selling its 50 per cent stake in Sony’s music business.
Billboard.biz: The split of the Sony BMG merger is virtually a done deal, Billboard.biz has learned.
Well-placed sources say a Bertelsmann supervisory board meeting has been convened today to examine the sale of the German media giant’s 50% stake, with a final decision on a deal expected to be revealed by the end of the month, following a meeting of the Sony Corp board.
But Bertelsmann’s execs ought to brace themselves for the reality of the credit crunch, insiders claim, as its €1.8 billion ($2.8 billion) target price is seen as nearly unreachable in today’s economic climate. Insiders say a €1 billion ($1.5 billion) sale is more realistic.
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