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BMG close to buying out KKR--Post

LIKE OIL & PILSENER: Bertelsmann is in advanced talks to buy out KKR’s 51% stake in BMG Rights Management, with the price at the crux of the negotiations, the N.Y. Post reports, intensifying recent speculation based on the two entities’ divergent goals. “They are very close to something with KKR, and the relationship is amicable,” a source told media reporter Claire Atkinson. “They will exit at a good multiple.” BMG started out as a publishing company but more recently has branched out into recorded music, picking up Mute and Sanctuary. The next target of the Hartwig Masuch-led company could be Concord Music Group, which is reportedly seeking a strategic partner. Meanwhile, Bertie CEO Thomas Rabe is looking to digital media and international expansion to boost the German conglomerate’s growth rate. Atkinson says Bertelsmann had explored bringing in another partner to replace KKR, including Samsung. (2/20a)

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