Acquisitions: Music (2008)
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Market Overview
Here is a list of acquisitions in the music market.
June 2008 -- Sony/Sony Corporation of America acquires Gracenote, Inc. for $260 million plus contingent consideration.Gracenote develops music recognition technologies that compare digital music files to a database of music information, thereby allowing audio devices to determine songs. The company licenses its technologies to consumer electronics designers, which integrate Gracenote technology into devices such as digital music players and car stereos.
August 2008 -- Sony/Sony Corporation of America plans to acquire the outstanding position of Sony BMG Music Entertainment Downloads from Bertelsmann AG for $600 million in cash. Sony BMG Music Entertainment is a joint venture (50-50) between Sony Corporation of America and Bertelsmann. The venture is the second largest music company after Universal. Sony BMG Music Entertainment will be renamed Sony Music Entertainment.
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