The second-largest record company in the world is now all Sony’s. As announced in August, Bertelsmann’s 50 percent stake in Sony BMG has been acquired by Sony Corp (NYSE: SNE). The former joint venture is now being renamed Sony Music Entertainment – a wholly owned subsidiary of Sony Corp. of America. The purchase values the company at nearly $1.8 billion, according to WSJ. Record labels Arista, Columbia, Epic, J, Jive and RCA all fall under the Sony umbrella, which holds contracts with artists such as Celine Dion, Alicia Keys, Bruce Springsteen, Justin Timberlake and Usher. Release.

• Sony Buys Bertelsmann’s 50 Percent Stake In Sony BMG For $1.2 Billion
• BMG Could Retain Some Euro Assets in SonyBMG Sale; Could Sell For Around $1 Billion
• Bertelsmann Wants $1.5 Billion For Sony BMG Stake, Talks ‘Advanced’: Report