BMG Completes $2.74B Purchase of Jive/Zomba
Bertelsmann Music Group has completed its Jive lessons. The major label group said Tuesday it has closed its acquisition of Zomba Music Group, home to teen-pop label Jive Records, paying more than $2.74 billion to acquire the stakes in the closely held group it didn’t already own. BMG already held 20% of Zomba’s record labels and 25% of its music-publishing portfolio. The deal, which got rolling in June after Zomba owner Clive Calder triggered a long-standing “put” option to sell his interest, gives BMG full access to Jive’s roster of pop megastars, including ‘N Sync, Britney Spears and the Backstreet… Read more »