Yesterday, Sony and Bertelsmann announced that they will be teaming up to bid on Parlophone and related EMI record labels. Parlophone Records has a long history in the music industry stretching back its roots in Germany in 1896. It became popular in the 1960's after its British branch signed The Beatles, and produced Sgt. Peppers, The White Album, Yellow Submarine, and Abbey Road. The record labels current portfolio, includes Coldplay, Kylie Minogue, Beastie Boyz, Gorillaz, and Norah Jones. In September 2012, Universal Music Group acquired its parent company EMI. However, European regulator's required that Parlophone be divested as part of the approved merger. The bid comes four years after Sony and BMG disbanded their Sony BMG joint venture.
Source: Financial Times
