Bertelsmann Buys J Records, Combines with RCA
Veteran record executive Clive Davis, whose ouster from Bertelsmann AG’s Arista caused an uproar two years ago, returned to the fold on Tuesday by selling his half of J Records to the company and taking the helm of a combined label group. As Bertelsmann’s music group, BMG, focuses on cutting costs during a prolonged industry downturn, the group said on Tuesday it would buy the 50 percent of Davis’ J Records it did not already own for undisclosed terms and combine it with its legendary RCA Records, home to stars like Christina Aguilera. Davis – pushed out in a management… Read more »
