KKR, Bertelsmann team for music rights

July 08, 2009 Media group Bertelsmann and private equity firm Kohlberg Kravis Roberts & Co are to form a music rights management joint venture, KKR said on Tuesday. Such a deal could be a more efficient way of managing rights under one roof, and would mark a more aggressive push into the music business for the privately held German media giant, which has largely exited the industry. Bertelsmann pulled out of a recorded music joint venture with Sony Corp. in August 2008 and sold its music publishing business in 2006.

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