Nas and Three 6 Mafia's Label Home On The Auction Block
Should the deal go through, reports say Bertelsmann could receive between $2 billion and $2.5 billion for its share of the company. Reports say Bertelsmann needs the cash to buy out Groupe Bruxelles Lambert, a big shareholder presently seeking a public offering of the company. Word is the Mohn family, Bertelsmann's founders, want to keep the company private.
Bertelsmann is also looking to sell its music publishing division. Apparently, Universal Music Group could possibly buy out the publishing branch.
Sony and BMG merged back in 2003, becoming the world's second largest record company after Universal.