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Music Industry Prepares for Sonic Boom from Sony, Bertelsmann Merger.
Knight Ridder/Tribune Business News, November, 2003
By Gregg Fields, The Miami Herald Knight Ridder/Tribune Business News
Nov. 7--In a move that reflects the increasing troubles of the world's recording industry, Sony and Germany's Bertelsmann announced plans Thursday to merge their music businesses, creating a giant that would rival industry leader Universal for market clout.
Sony BMG, should it come to fruition, would trail Universal by a small amount globally but would match it in the lucrative American market.
However, the decision to join forces represents the industry's weakness, not its strengths.
Music industry sales have been slumping for several years. High costs, a creative drought and the increasing trend of downloading music from the Internet at no cost have all...
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