FRANKFURT, March 1 Bertelsmann's
purchase of the 51 percent in BMG it did not already own values
the music rights management company at 1.1 billion euros ($1.4
billion), the German media conglomerate's chief executive told
CEO Thomas Rabe also said the deal, which was financed out
of Bertelsmann's cash reserves, was struck with the intention to
retain sole control over BMG, and that it will not look for an
alliance with rivals.
"We are not looking for types of cooperations. We are happy
for BMG to fully belong to Bertelsmann again. BMG has a strong
partner in the form of Bertelsmann," Rabe said.