LONDON (Brand Republic) - German media group Bertelsmann is planning to reorganise its online music retail business into a new unit called BeMusic, which will generate revenues of about $1bn.
The new unit will merge online CD retailer CDNow, which Bertelsmann bought last year, with BMG Music Service music club.
The move comes as part of the group鈥檚 push into digital music distribution. Last week, Bertelsmann, AOL Time Warner and EMI signed a deal with internet software company RealNetworks to back its MusicNet online music service.
www.cdnow.com
www.musicnet.com