Music merger to create new giant label

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Music merger to create new giant label

Showing signs of a music business struggling to adapt to new digital realities, Sony Music and the Bertelsmann Music Group agreed Thursday to create a new joint venture, merging the second- and fifth-largest record labels into a single entity. “The deal comes amid reports that EMI Group has secured funds to bid for Warner Music. If both deals were to go through, just three entities would control close to 80 percent of the music sold in the United States, and they would dominate most other major music markets.”

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