Bertelsmann's BMG Enters $150M Music Rights Joint Venture

Law360, New York (September 3, 2013, 5:05 PM EDT) -- German media giant Bertelsmann SE & Co. KGaA on Tuesday said its BMG Rights Management unit has entered into a $150 million joint venture with independent music company Primary Wave Music, which has BMG gaining rights to hits from artists like John Lennon and Marvin Gaye.

In addition to BMG buying rights in Primary Wave’s music publishing assets, the new alliance will involve Primary Wave marketing the companies' new record releases in the U.S.

“The U.S. remains the heartland of and biggest single market in the...
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